Why Reclaiming Public Assets Must Be Australia’s Next Step

By Denis Hay

Description

Australians demand a public-first future. Reclaiming public assets after the election can reverse neoliberal damage and restore equity.

Introduction – A Turning Point in Australian Democracy

Location: Suburban Melbourne, May 2025.

Action: Emma, a public school teacher in her 30s, scrolls through election results with a cup of tea.

Thoughts: “Finally, Australians are ready to stop selling off what belongs to all of us.”

Emotions: Relief, hope, cautious optimism.

Across the country, Australians voted for independents and minor parties pledging to reclaim privatised public assets. For decades, neoliberalism promised efficiency through privatisation. But it delivered higher costs, poorer services, and lost sovereignty.

This article explores why reclaiming public assets isn’t just popular – it’s essential. With Australia’s dollar sovereignty, it’s possible and a post-election mandate.

The Legacy of Privatisation in Australia

What We Lost – A Short History

From the 1980s, successive governments sold off key assets:

• Telstra (1997) – once a world-class public telecom, now privatised with inflated costs.
• Qantas (1995) – Australia’s national carrier, now beholden to shareholders.
• Public housing – sold to private developers, worsening homelessness.
• Electricity grids and toll roads are operated for profit, not public interest.

Who Benefited?

Privatisation benefited corporations, banks, and political donors.

• Boardrooms filled with ex-politicians and lobbyists.
• Profits soared, while households paid more for once-public services.

🔍 Example: Sydney’s WestConnex toll road – taxpayers funded it, but Transurban now collects billions in tolls yearly (Michael West Media).

Why Reclaiming Public Assets Matters

Essential Services Must Serve the Public

Public goods should never be profit-driven.

• Health, water, energy, transport, and housing are rights, not markets.
• Public ownership ensures access, fairness, and investment in communities.

Quote:

“Essential services are not commodities. They are lifelines.” – Former NSW Auditor-General Tony Harris

The Economic Argument for Public Control

Australia is a currency-issuing nation.

• We don’t need to “find the money” through taxes or borrowing.
• The real constraint is inflation, not affordability.

💡 Modern Monetary Theory (MMT) shows how Australia’s dollar sovereignty means it can directly fund infrastructure and services without relying on private corporations.

Global and Local Precedents for Re-Municipalisation

International Success Stories

• Paris took back water from Veolia in 2010 – improved service, lower bills.
• Hamburg, Germany – reclaimed energy grid in 2013 through citizen vote.
• Norway’s oil fund consists of nationalised resources that fund universal services.

Examples Closer to Home

• Hepburn Wind, Victoria – community-owned renewable energy.
• Calls to nationalise Sydney’s motorways – bipartisan anger over toll gouging.
• Queensland Rail buyback under Premier Palaszczuk.

Public control can work. It already does.

What Australians Are Demanding Now

A New Public Mandate

Polling shows over 70% of Australians want:

• Public ownership of utilities.
• Rebuilding public housing stock.
• A national energy provider focused on climate and affordability (Australian Council of Social Service).

The Role of Grassroots Movements

• Public Education Alliance, RAIL Back on Track, and Hands Off Our ABC have rallied for years.
• Voters are fed up with cost-of-living excuses and want a return to fairness.

Dialogue:

“It’s our money, our services, and our lives,” said activist Jess Latham at a Brisbane rally. “Why are we paying private firms to fail us?”

Policy Pathways to Reclaim Public Assets

Legislation and Oversight

To reclaim and protect public assets, the government must implement policies prioritising long-term public interest over short-term profit.

Key reforms include:

Establishing new public authorities governed by transparency, accountability, and community input.

Ending exploitative Public-Private Partnerships (PPPs) that favour corporate profits while leaving public services underfunded.

Embedding sunset clauses in all future PPPs and asset contracts.

What Are Sunset Clauses?

A sunset clause is a legal mechanism that limits the duration of a contract or law. In PPPs, the private entity’s control over an asset or service automatically ends after a specified period, unless actively renewed under new terms.

This approach ensures governments are not indefinitely locked into poor-performing or exploitative deals. It provides a built-in opportunity to review outcomes, consult the public, and, if necessary, reclaim ownership without massive legal or financial hurdles.

🛣️ Example: If a toll road contract includes a 30-year sunset clause, the asset reverts to public control unless a deliberate and transparent process extends the arrangement. This safeguards against permanent privatisation.

• Create legal barriers to prevent future sell-offs of reclaimed assets, including constitutional protections for critical public services.

Funding Reclaim and Rebuild Projects

• Use Australia’s sovereign currency to finance take-backs.
• No need for higher taxes or borrowing – just political will.
• Public investments create jobs, boost skills, and increase long-term savings.

Reframing the Narrative: From Scarcity to Sovereignty

Challenging Neoliberal Lies

Myth: “Governments are broke.”
Reality: Australia can create its own currency. The real limit is resource capacity, not dollars.

Myth: “The Private sector is more efficient.”
Reality: It’s efficient at extracting profit, not delivering outcomes.

Reclaiming Australia’s Future with Our Sovereign Currency

Just as China used its currency power to build futuristic cities and world-class infrastructure, Australia can do the same – if it chooses to serve its people, not corporations.

A Nation-Owned Future

Australians have spoken. The post-election message is clear:

• Privatisation has failed.
• Public ownership works.
• We can reclaim the future through our vote and our sovereign currency.

Q&A Section

Q: Isn’t privatisation more efficient?
A: Not when it comes to public needs. Private firms prioritise profits, often cutting corners and excluding the vulnerable.

Q: How can we fund asset buybacks without raising taxes?
A: Australia issues its own currency. It can fund buybacks responsibly without borrowing or taxing, just as it funds war or stimulus.

Q: Can citizens lead this change?
A: Yes. Community movements, citizen candidates, and policy education are already shaping post-election reforms.

Question for Readers

Have you or someone you know been affected by the privatisation of public services? Share your story in the comments below.

Call to Action

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This article was originally published on Social Justice Australia

Also by Dennis Hay:

Why a New Social Contract is Needed Now

Australian Sovereignty: Steps to Regain Independence

How Advance Australia Hijacked Democracy

 

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