In the Wall Street Journal overnight, a bit of background:

  • Australia’s conservative government scaled back an aggressive plan to privatize state assets
  • Finance Minister Mathias Cormann said the government won’t follow an audit commission’s recommendation to consider privatizing the national postal service
  • It will also not sell the country’s main naval shipbuilder, ASC
  • Cormann said Australia wouldn’t follow the path of Britain and New Zealand, where government asset sales had been more aggressive.

More at the journal here: Australia Eases Up on Privatization (gated)