Pretty much. The other issue here in Oz is the proportion of wealthy that owe their fortunes to government largesse/decisions.
Property (rezone your land? Donation please)
Mining (like a nice concession with a royalty holiday? how about a government funded railroad?)
How about a nice government contract for hundreds of $millions maintaining a facility with 7 refugees?
Or some nice lucrative concessions: Security? Medical Equipment? Worthless PPE? Only donors need apply.
We've just dropped to our worst ever spot in the international corruption index and heading downwards with a bullet.
This isn't a major issue for Westpac yet, but when only donors need apply for many government gigs we're certainly getting into very dodgy territory. This is not good for business.
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