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Medibank Essay

3502 words - 14 pages

Government Business RelationsShould the Australian Government privatise Medibank? Discuss, drawing upon news media reports and the concepts taught in this unit.Medibank was established by the Australian Government in 1976 and is Australia's largest private health insurer and a leading healthcare services provider and now it's time we move forward.Medibank is one of Australia's leading and standard health insurance provider. It is a government owed insurance company which is now heading towards privatisation. Car manufacturing in Australia was one of the strongest sector in the Australian economy. Within the past few months there are a lot of news reports that the Australian car manufacturing sector has "become so small that each car company is relying on the survival of the other". (Joshua Dowling). In relation to the debates and media news reports, this essay argues the issues related to medibank and whether the Government should provide privatise medibank.Current news reports state that three main car manufacturers, Toyota, Holden and Ford are expected to shut down their operations in Australia in the coming Years. This is because the local number of the Australian made cars is in decline. According to figures supplied by the car makers, 30% of the parts to make Holden Cruise was sourced locally and 50% was Commodore. To survive beyond current models, car manufactures are going to be forced to rely more on foreign parts to keep the costs down. Due to low sales and low cost sales, the three manufactures are shutting down to recover from the massive financial losses and start making a profit. (Joshua Dowling)In relation to the above arguments regarding the issues the car manufactures are facing to survive, this essay will argue on a negative point of view that the government should not assist and prevent the car manufactures in Australia moving overseas.Car manufactures moving their operations overseas, means loss of thousands of jobs, which increases the unemployment rate in Australia, a negative effect of billions of dollars in export income and investments and benefits in research and development. Therefore, Government funding might be a reasonable measure to keep the car industry running in Australia. Nevertheless, the argument is that despite the impact the car manufactures will have on consumers, jobs and export income should they still remain in Australia or move overseas to earn profits. (Jessica Irvine)As a result, from the industry and economic perspective it would be best for the car manufactures to move their operations overseas. Reason for moving operations are, the creation of low import tariffs and signed Free Trade Agreements that gave cheap foreign cars upper hand and the unions demanding better wages and conditions for their workers, which the car manufacturing industry is unable to provide. All of these factors share at least some responsibility for the industry's demise. Successive governments from both sides of politics...

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