Michael West on Dorc’s Fanciful Figures

Karl FitzgeraldCommentary, MultimediaLeave a Comment

Renegade Economists Show 529

As broadcast on the 3CR airwaves 5.30 – 6pm Wednesdays.

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Show Notes
Investigative journalist Michael West (michaelwest.com.au) joins to analyse why Australia’s energy prices are jumping through the roof. We step through the accounting (dis)ease inherent in the lavish use of Depreciated Optimised Replacement Costs to write off virtually anything. We then discuss Transurban’s tax trickery and the nature of Public Private Partnerships. WE the taxpayer demand more transparency on these multi-billion dollar deals!

Related Links
Dorc Rort Under Fire
Inside WestConnex – Wendy Bacon
The art of getting energy infrastructure paid for twice:

Sydney University finance professor David Johnstone says it should end.

“The whole idea of basing user charges on the imaginary current replacement cost of an asset that already exists is ideological claptrap. It says that you tell your kids that they can’t afford to drive the old Volvo in the yard because a new one would cost $100,000.”

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