Companies

Apr 12, 2017

Will Turnbull pander to Adani with a $900m loan?

The Turnbull government appears set to expand its rampant protectionism by handing nearly a billion dollars to Adani, while urban infrastructure projects with much greater benefits go begging.

Bernard Keane — Politics editor

Bernard Keane

Politics editor

Even as Malcolm Turnbull and his ministers warn against the rising tide of protectionism, his government is rapidly becoming the most protectionist since the Fraser era, with the way being prepared to hand a $900 million concessional loan to the corrupt, tax-dodging Indian company Adani for its unviable Carmichael coal mine project.

The cheap loan to fund the rail line needed to connect the mine with port facilities would come from the government's National Party boondoggle fund, the Northern Australia Infrastructure Facility, which lacks even the most basic accountability mechanisms and has minimal staff. There would be no assessment role for Infrastructure Australia, which is expressly designed to assess major infrastructure projects on a national and regional basis, and certainly no role for a body like the Productivity Commission.

Free Trial

You've hit members-only content.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions

26 comments

Join the conversation

The Crikey comment section is members-only content. Please login or sign up for a FREE trial to engage in the commentary.

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details

Sending...