Anthony Albanese has hailed the $2.5bn taxpayer subsidy for the Tomago aluminium smelter as proof of the wisdom of the federal government’s Future Made in Australia approach to business. It is nothing of the sort.
The fastest-growing industry in Australia produces nothing you can buy, sell or export. It produces rules.
Australia has missed out on a huge amount of investment thanks to “increasingly hostile” government policies that have forced the resources sector into “decline”, new research claims.
Australia is fortunate to sit atop one of the world’s great natural gas resource bases.
Australia’s economic stagnation under Labor is the nation’s “fundamental problem” as a new report shows living standards growth is at the worst point since the First World War.
Australia is heading for its weakest decade of living standards growth in more than a century, fuelling support for One Nation and prompting former Reserve Bank governor Philip Lowe to warn that fundamental policy change is needed to encourage business investment.
Labor luminary and former ACTU boss Bill Kelty has slammed the quality of economic management in Australia, saying taxes and spending are too high, and there is “something really wrong” when living standards are falling at the same time commodity prices are booming.
The Northern Territory is poised at the edge of a resources boom but the opportunity will pass by without dedicated efforts to make it happen, according to industry leaders.
Why does the Northern Territory remain reliant on federal taxpayer funding, and given the record and increasing government debt, combined with the lack of importance for territory votes that federal parties outside the territory have, how long can it rely on the extent of such taxpayer funding?
The Territory’s largest private investor Gina Rinehart has backed the Finocchiaro government’s call to the Albanese Government that it needs to unlock northern Australia’s dormant potential through Special Economic Zones.
