Another great conversation with my friend, colleague and partner in podcasting crime Gene Tunny. Gene suggested we discuss various ways in which we've placed nationally independent analysis at the centre of government, only to find that it hasn't performed as well as it might. A classic example is regulatory impact statements, which were a good idea back when Australia was among the world's leaders in introducing them in 1986.

However, they've not had much impact because although notionally independent, government rewards 'can do' types both at the political and bureaucratic level. So the process degrades into a box-ticking process. Something similar happens with freedom of information as bureaucrats delay and resist release in various ways and the important stuff migrates into whispered conversations in corridors and secure and self-erasing platforms like Signal. And then there's independent assessment of infrastructure.

The new ALP Government has cleaned things up a little, but could go a lot further as independent Allegra Spender suggested in this intervention. But the two major parties wouldn't have it. Ultimately this takes us to the question of how firmly democratic principles are anchored in Western Democracies. They're under threat everywhere. Yet there's a simple, radical and democratic way to secure them. Build the institutions in which the people can defend them!

If you'd like to watch the discussion the video is here.

150. Sir Douglas Flint CBE: Chairing listed companies - lessons from the BP Macondo crisis, HSBC and the abrdn rebrand