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Flat White

The Snowy scam, the Donald and death of Australian industry

6 March 2018

12:59 PM

6 March 2018

12:59 PM

It seemed too good to be true: Snowy being bought by the Commonwealth from state governments in what appeared as a money creation process – the Commonwealth had no apparent increase in debt or other costs, while Victoria and New South Wales got $6 billion for their Snowy shares.  The reason behind the acquisition was to simplify the political process whereby the Snowy 2.0

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