Gday Alan
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Apart from providing very low cost power to the people, it also managed to return quite substantial "dividends" to the government (hundreds of millions each year).
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Another thing it did is going to start biting us very soon.
The large Govt utilities ( Gas, Electricity, Water ) also had the mass and social awareness to support and train large numbers of apprentices for their full terms, and could give them a very wide range of experiences along the way.
IIRC, a study came out last year ( associated with the TAFE debate ) re what the effects of the new profit first system is going to be as the currently qualified people start to depart the system, and we realise we dont have the required no of new people to replace them. 457s anyone???
Andrew