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Commonwealth Serum Laboratories

Three years: 1914, 1994 and 2020. They are interlinked. They highlight the stupidity, the ignorance and the dangers associated with the sale of public assets to the private sector.

In 1914 the Australian commonwealth government created the Commonwealth Serum Laboratories (CSL), a public institution established to provide vaccines for the people of Australia. Between 1914 and 1994, CSL was one of the most important public institutions in the country. It was privatised in 1994 by the prime minister at the time, Paul Keating. In 2020, in the midst of the COVID-19 pandemic, we find the CSL corporation, whose share price stands at $311, with its cap in hand to the federal government, asking for a $1.2 billion grant to modernise its vaccine production processes. This is a blatant example of corporate welfare.

In 2020, we are paying the price of the privatisation of public assets in many ways. CSL is just one example. It is time we had a social, cultural and political movement in this country that is willing to reverse this trend. That’s what Public Interests Before Corporate Interests (PIBCI) is all about. Please see our website for all our policies and think about joining us today. Together we can make a change.
www.pibci. net

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