The Wire

The government is currently defending its last minute decision not to sell off the Snowy Hydro scheme – apparently swayed by a sudden rush of sentiment and voter opposition. Peter Andren is Independent Member for Calara in the country’s south east corner has be a vocal opponent of the plan from the beginning. He says he’ll now push for legislation to put the Snowy Hydro firmly in federal government hands. The financial world though is taken aback by the decision. Financial analyst Peter Strachan says it is an emotional decision driven by baby boomers and will threaten foreign investment, as well as leaving taxpayers with the bill for the considerable promotion of the float which has already occurred.