The Big Four banks — the Commonwealth Bank, NAB, ANZ and Westpac — are together the most concentrated and profitable set of banks in the world. The Australian Big Four represent half of the eight most profitable banks on the entire globe.
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The giant mining corporations make the biggest profits of all industries in Australia. BHP Billiton posted a profit of $14.7 billion last year, while Rio Tinto made a half-year profit of almost $5 billion.
Around the world, over the past 30 years or more, the ruling classes have launched an offensive against working people and the “welfare state,” under the theme of “Neoliberalism.”