Scott Morrison has yet another new job — and like some of his other post-Parliament gigs, it’s tangentially linked to the AUKUS submarine pact he helped set up as prime minister.
The Age reports Morrison is listed as a strategic advisor at a newly created venture called the Seafloor Minerals Fund, alongside ex-US secretary of state Mike Pompeo. Both men are also behind venture capital firm DYNE, set up to support the strategic goals of AUKUS, and which also has interests in deep sea mining, according to the story.
Crikey figured it was time to have another look at Morrison’s post-politics career.
In need of cash
As Australian National University historian Frank Bongiorno has pointed out, Morrison is the only former prime minister other than Malcolm Turnbull who was originally elected to Parliament after 2004. That’s significant because that’s when the Howard government, under pressure from then-Labor leader Mark Latham, abolished the generous pension-for-life scheme politicians had previously received if they had served in Parliament for more than eight years.
Unlike Turnbull, Morrison is not a millionaire, nor is the 56-year-old ready to retire, so he really did need to find a viable career after quitting politics.
Australian Financial Review political editor Phillip Coorey reported last year Morrison was “relatively well off [but] has a Sydney mortgage and is paying school fees for his two children”. His salary as prime minister was $549,250. As a backbencher, following the 2022 election loss, he would have earned a salary of $225,750.
Morrison would know the financial pressures facing late-career workers as well as anyone — as treasurer in 2015, he “put ordinary workers on notice that they should no longer expect to receive an age pension from the government when they retire,” the Sydney Morning Herald reported at the time.
“Becoming a self-funded retiree, I think, is one of the most important objectives of any Australian … it means you have choices and control over your life and your care,” Morrison said in a speech that year.
Multitasking
So what has Morrison done to set himself up for success? His LinkedIn lists three jobs: author, non-executive vice chairman of American Global Strategies, and board member at “various companies”.
As an author, he’s already published his first work: the religious memoir Plans For Your Good. The book was aimed at the $1.175 billion US Christian book market, but in Australia, it’s reportedly sold very few copies so far.
At American Global Strategies, Morrison is working with two former Donald Trump staffers to “help clients navigate a highly dynamic geopolitical landscape that presents risks and opportunities”, in the ex-PM’s own words.
As a strategic advisor to DYNE, Morrison hopes to advance investment in dual-use technologies — inventions that have military and civilian applications. That innovation is being helped by the second pillar of AUKUS, the one that has to do with tearing down military-industrial trade barriers between the US, UK and Australia. The new gig, with the Seafloor Minerals Fund, will set Morrison and Pompeo up for taking advantage of the estimated trillions of dollars in rare metals estimated to be on the seafloor. According to The Age, Australians can expect a fierce future debate about the merits and risks of mining the seabed for minerals, as China seeks to do the same.
How would you feel about a Scott Morrison-affiliated company mining the ocean floor? Let us know your thoughts by writing to letters@crikey.com.au. Please include your full name to be considered for publication. We reserve the right to edit for length and clarity.
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