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Don't pay so you can read it.
Pay so everyone can.
Macquarie chief Nicholas Moore unfurled an interesting new historical perspective this week when, appearing before the Banking Royal Commission, he praised corporate regulators for doing an excellent job regulating Macquarie.
A cool $8 million for a bunch of chairs? A lazy $3 billion of taxpayers’ finest being forked out to some accountants? For advice? What, exactly, are “strategic planning consultation services”?
High in their splendid eyries above Clarence and Collins streets, scores of tax advisers from EY, KPMG, PwC and Deloitte have been beating their fee-clocks by the hour, cooking up fancy new loopholes, plotting how to beat the system.
The Big Four global accounting firms have banked $3.1 billion in taxpayer income in the past six years for government consulting.
The job of dealing with homeless children is not like a plumbing job, says Laurie Matthews. You can’t just call the plumber and get the drain fixed.
Quad Erat Demonstrandum
