Long-term sale begs long-term thinking

Updated September 21 2016 - 7:24pm, first published 11:32am

Treasurer Tim Pallas could barely contain his delight this week at the price the lease of the Port of Melbourne asset has yielded. Despite misgivings about the stake China has taken in the largest container port in the Southern Hemisphere or the peevish reneging by the Federal Government in short changing Victoria, this is some rare budget good news. However it is time to get serious about just how the long term profit can be utilised for the best long-term good.

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