Absolute disgrace the way this Govt has handled the AWB Oil For Food debacle. They have treated the average wheat farmer with total disregard. Took 6 months to consult industry to make a Mickey Mouse decision. Yet when they wanted to change the IR Laws they consulted noone and the change went through in a matter of months.
It is clear the Govts number one concern here is the viability of AWB as an ongoing entity. In which case they have effectively allowed the AWB to use wheatgrowers' equities to secure their own future when any normal company would now be in receivership.
One thing is for sure, overregulation leads to disasters and when the disasters arrive further regulation will only worsen the ultimate situation. I am growing more of everything other than wheat this year!!!! The only way to go for the Australian Wheat Industry is full deregulation and just watch the money pour into infrastructure in this nation when it happens.
AWB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
