Residents of New South Wales have every reason to view the future with alarm. Yesterdays dramatic events - which saw Morris Iemma resign as premier and abandon his future in politics - presents a grim future scenario.
Iemma's fate was sealed when he failed to get the numbers to sell off the state electricity system. He wanted to make a new start by sacking incompetent ministers but the power brokers refused and left him no option than to step aside.
His replacement is an unknown. Nathan Rees is serving his first term in parliament, having won a seat at the last election. More significantly, Rees is from the left faction of Labor politics - and his endorsement as premier came from the powerful right wing. Many will wonder what strings are attached to this unusual move and what future policy directions will be involved.
It is evident that this state is in dire financial stress. The writing is on the wall with the credit agencies reviewing our AAA credit rating. There is simply not enough money to keep health, transport and education on a reasonable level, let alone fund the promises that this government has been making.
Selling electricity was the last roll of the dice. Not only would it rid the government of a utility about to suffer a huge price hike but it would be the only way funds could be injected from it's sale to try and bring other services up to scratch - and restore Labor credibility.
Nathan Rees will have a hard job ahead of him and it looks like he is stuck with the same bunch of incompetent ministers with big ego's who are clinging to their jobs and enjoying the gravy train.
Labor party insiders have been warning that the government - and the state - are heading for a train wreck. Hopefully, Rees has qualities unknown to the public and may be able to pull a rabbit or two out of his hat. If that isn't the case then this state is heading into bad times - with crumbling infrastructure and it's finances in a hole.
The dimensions of possible disaster will be made clear on Monday when the new Premier selects his ministerial cabinet !
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