PM stokes the wrong fire
The government’s obsession with speeding up the mining boom has delivered an exchange rate and a shortage of skilled labour that is devastating the manufacturing industry. Rather than take its foot off the mining boom accelerator or admit that the miners’ boom means a bust for manufacturers, the government is trying to buy itself some taxpayer-funded alms. Spending $250 million per year will do virtually nothing to help the $100 billion manufacturing industry cope with an exchange rate that is 40 per cent above its historic average. But if it eases the guilt or persuades the electorate, then maybe it’s worth it.
Related documents
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
Fossil fuel subsidies
When governments subsidise fossil fuels—coal, gas, diesel, petrol—they not only waste public money, they also make climate change worse. Subsidies and tax breaks make fossil fuels cheaper, making it harder to switch to renewable energy and cleaner technologies. Ending fossil fuel subsidies is common sense and good policy.
Why a fossil fuel-free COP could put Australia’s bid over the edge
When the medical world hosts a conference on quitting smoking, they don’t invite Phillip Morris, or British American Tobacco along to help “be part of the solution”.
Australia’s small mining industry
Despite its claims to the contrary, the mining industry is a relatively small and unimportant part of Australia’s economy. It pays very little tax, receives considerable subsidies, employs few people, and is largely foreign-owned.