No $25 million bailout for SPC Ardmona.
The Abbott government has rejected providing assistance to the company, although there was cabinet division on the question.
Treasurer Joe Hockey is said to have led the dries, arguing that taxpayers should not bail out SPCA when its parent company Coca-Cola Amatil turned a $215 million profit in the first six months of the current financial year.
The decision was characterised as “a defining point in industry policy”.
No doubt this decision will remain the criterion when Australia’s Big 4 Banks start collapsing when Australia’s bubble-inflated land prices tank. 🙂
One thought on ““DEFINING POINT IN INDUSTRY POLICY””
No doubt the banks will be bailed out by the Government with the spin that the ‘banks are different’, when compared to SPC.