Science of the Social Credit Measured in Terms of Human Satisfaction
Christian based service movement warning about threats to rights and freedom irrespective of the label, Science of the Social Credit Measured in Terms of Human Satisfaction

"All that is necessary for the triumph of evil is that good men do nothing"
Edmund Burke

Science of the Social Credit Measured in Terms of Human Satisfaction

PT. LINCOLN MAYOR CONTINUES TO OPPOSE TELSTRA SALE

AND CALLS ON ALL AUSTRALIANS TO SHOULDER THEIR RESPONSIBILITY
IN THE BATTLE TO SAVE IT.

DURING SENATOR HELEN COONAN'S VISIT TO ELLISTON TODAY (6/7/05) MAYOR PETER DAVIS CONVEYED THE FOLLOWING REASONS FOR OPPOSING THE FULL SALE OF TELSTRA.

1. TELSTRA HAS A COMMUNITY SERVICE RESPONSIBILITY TO ALL AUSTRALIANS. Yet, Telstra consistently refuses to honour its responsibilities to isolated rural Australians based on poor financial returns to the Company. It has stated in its annual reports that it will not invest in assets returning poor profitability.

Example: Telstra has advised Cleve District Council no mobile phone tower will be installed at Darke's Peake unless Council enters into a funding agreement. Cleve has a population of 1900 people who pay a total $1.4 million in Council rates annually.... Yet new C.E.O. Trujillo's commencing salary is seven times the total rate revenue of the Cleve Council And the dividend and tax stream flowing to the Federal Government is $10 Million DAILY!
Federal Government must force Telstra to honour its community responsibilities. IT CANNOT DO SO IF IT DOES NOT CONTROL TELSTRA.

2. THE PEOPLE OF AUSTRALIA OWN TELSTRA, NOT THE FEDERAL GOVERNMENT. GOVERNMENT RECEIVES IN EXCESS OF $3.7 BILLION ANNUALLY IN TAX AND DIVIDENDS..... or approximately $180 per person annually in our Nation. THE TELSTRA REVENUE STREAM REPRESENTS IN EXCESS OF ONE THIRD OF COSTELLO'S ACCLAIMED BUDGET SURPLUS OR A $360 tax increase for Australia s 10 million taxpayers if Telstra is sold.

3. GOVERNMENT HAS INDICATED IT WILL USE THE $32 BILLION TELSTRA SALE PROCEEDS TO FEND ITS 'FUTURE GROWTH FUND. with total funds of some $150 Billions by 2020. This Government investment Fund is intended to meet its current unfunded superannuation liability of $81 Billions. Government should know that Telstra is currently returning in excess of 12% on capital Government did not contribute.
If sold. Government will receive less than 5% on the capital due to:
· Complete loss of the $1.8 billion dividend stream.
· Significant loss of the taxation stream due to private superannuation tax at 15% and revenue flowing offshore to overseas shareholders.
· Government will lose some $700 Million in sale costs alone.
· By 2020 Telstra cash flow revenues will have generated $15 billions more than the total proposed Telstra sale proceeds.

THE PEOPLE OF AUSTRALIA MUST MOUNT A MAJOR CAMPAIGN TO CONVINCE AT LEAST 40 SENATORS TO OPPOSE THE FULL SALE OF TELSTRA."

ARE YOU DOING YOUR PART? YOU HAVE THE RIGHT AND THE RESPONSIBILITY TO INFORM YOUR PARLAIMENTARY REPRESENTATIVE WHAT IS YOUR WILL. INSIST TO HIM/HER YOU WANT TO OPPOSE THE SALE OF TELSTRA. TELSTRA IS A PUBLIC UTILITY AND IS THERE TO SERVE ALL AUSTRALIANS.