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Identify the key reasons for privatisation of public utilities or institutions and discuss the likely effects in Australia - Essay Example

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Privatisation is basically the act of fully or partially transferring the ownership, management, finance or control of a public asset(s) to the private sectors. (ILO, 2001, p. 5) In line with the meaning of privatisation, Savas (1993, p. 40) explained that privatisation of…
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Identify the key reasons for privatisation of public utilities or institutions and discuss the likely effects in Australia
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Download file to see previous pages o gradually privatise a large number of its public utilities particularly within the three sectors known as the: (1) financial services; (2) electricity and gas; and (3) transport and communication (Reserve Bank of Australia Bulletin, 1997, p. 7). Basically, there is absolutely nothing wrong with privatising public enterprises especially when there is a strong need for the government to come up with large amount of money to finance the development of public infrastructure or given that the government is no longer capable of properly managing a business enterprise. However, it is also possible for the entire society to experience economic and social problems given that the selling of public utility to the hands of the private sector heavily involves infrastructure (Strachan, 1998).
To enable the readers to have a better understanding why the Australian Government heavily relied on privatisation back in the 1990s, the key reasons behind the privatisation of public utilities in Australia will be thoroughly discussed. In the process of going through the main discussion, the possible consequences or effects of implementing the privatisation of public utilities in Australia will be tackled followed by demonstrating real-life examples to support the student’s point-of-view. As part of the conclusion, whether or not the key reasons behind the privatisation of public utilities in Australia can be considered as a good political strategy in terms of being able to provide the general public with affordable and good quality services will be justified.
For many years, Australians had become very dependent on the Australian government when it comes to the delivery of good quality public services. As part of considering the social welfare of the general public, the government had to spend a large sum of money to improve the public utility services without overcharging the people with the quality services they receive. Partly because of globalization and the limited amount of ...Download file to see next pagesRead More
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