Tuesday, April 14, 2009

Tattslotto Specific Projects

Mostly funding for large projects in our state come from taxpayers, and with the Federal Goods and Services Tax, everyone is a taxpayer, regardless how poor you are. Would Sydney's Opera House ever be built if it came from government monies? I doubt it. It had its own lottery which presumably funded most of it.

There is a foreign company known as Intralot now involved in gambling in our state. They don't seem to be doing terribly well. For all the evils and secrecy of Tattersalls, they have been around for so long and people trust the name. My grandfather probably bought a Tatts ticket when he was young. A lot of these gambling companies' earnings go to the government in the way of taxes which funds many things, but I am not sure I am really comfortable with the poor losing money in poker machines to fund projects I will appreciate.

As you would guess comrade, a good communist like myself has issues with public private partnerships. In days of old, people used to buy government bonds in public utilities to fund large projects. It was a safe investment, government gauranteed was the mantra, and paid an average return. Not high, but not too low and safe!

If our public transport was still run by the government, I think the explosion in numbers using it would indicate it was a very safe investment if the model was slightly altered from fixed interest. Think of it. We need to invest in public transport to make it first class. When we have, you will make a nice return.

Ah, I hear you saying something. Shares in Connex. I don't think so, although for all their troubles, with the gov subsidies, they still return a good profit..........until they sacked for poor performance.

I would like to a lot more people being able to directly invest money in something they feel confident about, and lotteries for specific projects.

It might be pie in the sky, but it used to work on both counts.

7 comments:

  1. YES!
    Boot Connex out, run and own the rails purely by State Govt, with State-owned rail repair/building yards, increased patronage meaning $ straight back into Govt coffers for State-owned rail system.
    Goodness,they could make a killing!
    And much more reliable than the stock market any day ;)

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  2. Revolutionary talk Jayne. Let's do it.

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  3. Count me in for this revolution.

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  4. Government bodies like hospitals, trains etc do not have to make a profit. They are there to perform a service for residents. Private companies are porfit driven as the bottom line...first proprity is return to shareholders and huge wages for directors..than service.

    Don and I were founding members of the Port Macquarie hospital action group which formed in 1992 to fight the proposed privatisation of the Port macquarie public hospital. our group fought and wone a Council run referendum against privatisation but they went ahead and did it any way in late 1992. In 2004 the experiment was proved a failure and the NSW Gov bought back the hospital from the company which had been Maybe health...but they onsold to a foreign company. I have in this room piles of ring binders of media releases and letters to the editor, three VHS video tapes of our actions...detailing all the many failures of privatisation...and comrade Don and I were not previously politically driven just us.

    Privatisation DOES NOT WORK. The Gov owned lotteries used to fund hospitals in QLD and they had the very best hospitals in Australia then... not any more.

    Please tell me where gambling revenue goes these days...any one??? Garrrgh...sory Andrew...this is a sensitive subject for Port Macquarians...the guinea pigs of privatisation...the first public hospital in Australia to be privatised...

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  5. Just knew you would be in it Reuben. We march on Parliament in the morning and take Kosky hostage.

    Indeed they don't MC. They are a service to the public. Public transport, water, electric, gas, telecommunications, health care etc. I had a friend who was from Queensland many many years ago, and she would brag of Qld's health care system under Bejelkie Peterson. All free and first class. At least he did something right. Ha, just recalled, she had her varicose veins done back in Qld, for free. I kind of recall stories about Port Macquarie hospital.

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  6. In Viktoria, you don't ride train, train rides you.

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  7. Yeah, if there were openings in the floor, they could be people powered.

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