Govt back-down on ASIC sale is good news for jobs and accountability

The CPSU has welcomed the Turnbull Government’s decision to abandon the proposed privatisation of the ASIC Registry. The decision was announced today as part of MYEFO.

Along with journalists and civil society organisations including Get-Up,  CPSU members have long campaigned against the sell-off because it would have threatened hundreds of jobs at ASIC’s Traralgon headquarters and undermined corporate transparency and the agency’s capacity to detect and fight corporate crime.

In October, CPSU representatives from the Traralgon ASIC office delivered a local petition to National MP Darren Chester's electorate office opposing the sell-off because of the impact on local jobs. There was also a national petition presented to Government with more than 80,000 signatures against the sale.

CPSU Deputy Secretary Melissa Donnelly said: “Selling off the ASIC Registry was always a bad and dangerous idea. We welcome the fact it has been put out of its misery.

“This is a great win for ASIC workers and other CPSU members who have fought hard for several years to protect local jobs and ensure the crucial work of ASIC is not compromised. They deserve to be very proud of the broad community campaign they ran.

“Most Australians want to be sure corporate Australia does the right thing and the ASIC Registry is a key part of that accountability.” 

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