No billion dollar handout for billionaire Adani
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What's the problem? Allegations of lies, corruption and bribes. The recent 4Corners investigation into the Adani Group company makes it clear this is a bad deal for everyone except the corrupt billionaire Gautam Adani.
So why is QLD Premier Palaszczuk promising him hard-earned Aussie taxpayer dollars?
What's the solution? Simple: no billion dollar handout for billionaire Adani.
If Palaszczuk is really committed to the state's future she would can the loan and invest in local business, a healthy reef, clean energy and permanent work opportunities for Queenslanders.
There are a billion reasons not to hand out this money. Here's one: in the 4Corners episode a mother who lives in Vasco, Goa, India, described life near the coal port: "My youngest son gets up in the morning and vomits up coal."
Here're a few more:
- Adani has a terrible environmental track record, both in India and in Queensland.
- Adani will send any profits offshore ("An explosive Guardian investigation revealed details of how Adani allegedly syphoned hundreds of millions of dollars borrowed money into offshore tax havens. Legal documents detail how Adani set up a front company in Dubai to order equipment from, before selling it back to themselves at massively inflated prices. They then used a complex money trail to hide the profits in a tax haven")
- Even more absurdly, it is estimated that this $1 billion dollar 'investment' will only create around 1,000 jobs.
That is not 'bang for our buck'!
The idea of giving Adani any kind of loan is bananas! If no bank will go near the Group then why is the state government so keen to pour our money into it?
"Adani is accused of a complex $298 million fraud that cheated shareholders, tax authorities and Indian energy consumers".
Watch the 4Corners Expose here: http://iview.abc.net.au/programs/four-corners/NC1704H034S00
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