The Australian Securities & Investigations Commission (ASIC) has announced it would investigate the federal government for insider trading following a report by Bloomberg, published yesterday, that revealed the government had shifted investments from scientists and researchers into fields that employ unskilled labour.
The move alerted ASIC, as this strategy runs in contrast to the investments of every other nation in the Organisation for Economic Cooperation and Development. ASIC’s suspicion is that the usually sycophantic country breaking away from the pack is a sign that the Australian government is manipulating the economy.
“The chief concern of ASIC is that the federal government’s actions indicate that they have inside information that Australia’s population will be shifting away from education towards menial activities,” David Thomas, spokesperson for ASIC, told The (un)Australian.
“The big question is how the government that’s proposed making higher education more expensive, scrapping the Gonski reforms two years early, and puts Dr Kevin Donnelly in charge of reviewing the national curriculum, could possibly be sanguine about Australia’s workforce becoming less educated.”
Matthew Farthing is the business reporter for the (un)Australian. He was supposed to be named Cochlear’s next CEO, but the position was given to Chris Smith when Mr Farthing did not hear his name called.