Politics

@AusDisclosure
Provides information on pollies and other investments, gifts and donations. They all seem to get free tix for sporting events. Many also seem to have quite a few investment properties. No prizes for guessing why negative gearing stays.
Sarah Henderson has investments in energy companies and in Aristrocrat pokies. No conflict of interest there

All politicians have vested interests. The simple fact they have super means they are invested in the market.

Do we need to ask every politician what super fund option they have chosen?

Most accountants and lawyers are required to disclose their super holdings to their employers to avoid conflicts of interests. So yep, politicians should too.

1 Like

yes

Depends what you can a vested interest Trip.

By your definition, everyone has vested interests, the test is really all about conflict of interest.

In my humble, left leaning view, I think far to much is made of negative gearing. I accept that I live in a free market economy, and if you take negative gearing away, then owners of any investment property will cope and it will not be the end of the world. Most buy these properties to either get a rental return or a capital gain, and accept that you have to pay taxes on both. Those who rail against it, usually donā€™t own any property, and donā€™t like anyone else getting a free kick that they cannot get.

And seriously who pays any attention to where your Superfund invests ? Maybe it is a right-wing thing ?

It matters if your fund is self-managed rather than in a pooled trust like Australian Superā€¦and even then, you can opt to invest directly in your choice of shares (ASX200 companies last time I looked).

How dare we expect transparency from those that stand to gain from their decisions.

Better yet, if they want transparency from ABC staff re: salary, maybe they should be held to the same standard.

I suppose you are correct AN, but all Pollies are in the Parliamentary Fund and not sure they would pay that much interest to it.

I have spent years knowing Federal and State MPs of all colours, and while some are a bit strange, it is rare to find any that are corrupt. Those guys in NSW like Obeid are an exception, and they got jail, as did a few in Qldā€¦ The amount of scutiny all are under now is rightfully immense. Even my local State bloke who has got into strife for claiming a living allowance out of his electorate, while definitely a dikkhead, checked what his ā€œentitlementsā€ were , got approval from those who administer it and then claimed and received about $180,000. I told him it was past the edge of what is reasonable, but he argued that it was all approved and just part of the package. Some can be very stupid it seems.

Pollies are required to declare their super funds.

1 Like

Most of them would have super entitlements from before when they got elected.

Humble is not a word I would use to describe your views. I own property, one property and I am firmly of the view that speculation in the private property market is unnecessary. If someone wants to invest in the housing market it should be for required housing, not "spec homesā€™. By all means get a fair return on investment but why should the community be forced to help you to afford it more comfortably?

You misunderstood what I posted, or rather I was not clear.

I agree with you about property and in my ideal world we would share it all. We do live in a free market capitalist economy however and people are allowed to own whatever they can afford.

The basics of parliamentarians financial interests can be found with a bit if sleuthing on public websites.
It would be more meaningful if they were to post their obligatory public disclosures on their electorate websites.

OK. Butā€¦I donā€™t believe we have a free market economy. The system is contrived and convoluted and skewed towards the same old handful that have held sway for ever. Throw in a bit of greed and dishonesty and voila! The System. I think it all starts with those with capital exploiting the labour of others and festers and spreads from there.

1 Like

I like the way you think.

Thatā€™s a kinda system-independent feature of human nature there.

If itā€™s not capital exploiting the labour of others, itā€™s the aristocracy, or the priesthood, or the politburo, or the dictator and his mates, or whichever guy in the anarchist commune who has the most guns and fewest scruples.

Those with power find a way to leverage that power to enrich themselves. Those with money use that money to purchase power.

5 Likes

3 Likes

Im curious to know why the LNP couldnt lend or give Holden 160 million to virtually support an entire national icon industry, yet seem keen to lend Adnai 1 billion dollar, for what, 15 thousand jobs? This is contested too. And this company Tesla.
This government are not only dodgy, they are extremely thick

3 Likes

Call me cynical but probably for the same reason they spend money in any seat. Not for any economic or logical reason, but purely to increase their chances of winning the seat at the next election.

Listed below are where the major car plants and Adani are located with their respective federal representation, guess which seat is the swing seat?

Ford - Geelong VIC - Corio - Labor since 1967, safe as safe can be
Holden - Elisabeth SA - Wakefeild- Labor, but only since 2007
Toyota - Altona VIC - Gellibrand - Labor since inception 1949, safe as safe can be

Adani - Capricornia -currently Liberal since 2013 - but has been Labor more often than not.

1 Like

Elizabeth.

Since 2007, but it was a short stint in Liberal hands. One of the safest and deepest Labor seats in the country.

Edit: the situation at ASC Shipbuilding is similar, the majority of the jobs being lost there are filled by people in the Port Adelaide electorate, which is so Labor it is borderline communist.

The difference being there that with the competition from WA and Vic for the shipbuilding industry, it has become an issue that liberal identified could cost them votes broadly across SA.

Side note: The Semaphore Workers Club (headquarters of the Communust party of SA) is one of the best Blues venues in the country.