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HandWiki. Privatization in Australia. Encyclopedia. Available online: https://encyclopedia.pub/entry/29565 (accessed on 23 September 2026).
HandWiki. Privatization in Australia. Encyclopedia. Available at: https://encyclopedia.pub/entry/29565. Accessed September 23, 2026.
HandWiki. "Privatization in Australia" Encyclopedia, https://encyclopedia.pub/entry/29565 (accessed September 23, 2026).
HandWiki. (2022, October 17). Privatization in Australia. In Encyclopedia. https://encyclopedia.pub/entry/29565
HandWiki. "Privatization in Australia." Encyclopedia. Web. 17 October, 2022.
Privatization in Australia
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The content is sourced from: https://handwiki.org/wiki/Finance:Privatization_in_Australia

Privatization in Australia is the process of transiting a public service or good to the private sector through a variety of mechanisms that was commenced by the Federal Government in the 1990s, receiving bipartisan support. More generally, privatization is a set of economic policies that is part of a broader system of deregulation of government services, underpinned by the ideology of neoliberalism, in order to achieve economic outcomes of growth, efficiency and productivity. Some examples of sectors that have been privatized include finance, telecommunications and infrastructure. Australia's public service has also transformed with the introduction of New Public Management (NPM) in the late twentieth century which altered public administration models to appear more "business-like" through performance evaluations that emphasize efficiency, productivity and service delivery. Another definition of privatization is reliance on "more on private institutions and less on government, to satisfy people’s needs”. The concept of privatization can be construed in a narrow or broad sense. The narrow scope of privatization is portrayed as the sale of public goods, while the broader understanding of privatization involves the transfer of "ownership, management, finance and control" of public goods to private actors. Historically, the Australian government played an influential role in society as the idea of a strong state was prevalent to the Australian story since Federation. This changed in the twentieth-century, as Australia’s adoption of privatization as a set of government policies, reflected the rise of privatization across the Western world, specifically in the United States and United Kingdom. The Australian experience of privatization involves substituting government ownership, provision and funding to the private sector, in an attempt to liberalize the economy. The effectiveness of such policies is contested, as the motivations of privatization are widely debated.

private sector neoliberalism public service

References

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