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Economics
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September 2015
Establishing a gas community benefits fund
The NSW Government is currently accepting submissions on how to establish a community benefits fund from the potential development of a coal seam gas (CSG) industry in the state. A Discussion Paper has been published by the Division of Resources and Energy. The Australia Institute has written extensively on the economics of gas in Australia.
Mt Thorley-Warkworth Continuation Project
The Planning Assessment Commission for the Mt Thorley-Warkworth Continuation Project (Warkworth Project) has requested further submissions relating to a proposal to change the State Environmental Planning Policy (mining, petroleum production and extractive industries) (Mining SEPP). The current Mining SEPP requires consent authorities to give the “significance” of a resource the greatest weight in their assessment
Shipping Legislation Amendment Bill 2015 – Submission
The Senate Rural and Regional Affairs and Transport Legislation Committee is currently examining the Shipping Legislation Amendment Bill 2015. The purpose of the Bill is to increase access to Australian coastal shipping for foreign crewed ships in an attempt to make coastal shipping cheaper. The proposed Shipping Legislation Amendment Bill 2015 is likely to reduce
Springvale mine extension project : Submission
The Australia Institute made a submission to the September 2015 Planning Assessment Commission hearing on the Springvale coal mine extension proposal. Key points: Economic assessment of the project fails to comply with NSW government guidelines and widely-accepted professional standards. No indication is provided as to the financial viability of the mine, making all claimed economic
August 2015
Funny money: Submission to Senate Standing Committee on Economics inquiry into foreign bribery
The Australia Institute and the Jubilee Australia Research Centre have made a submission to the Senate Standing Committee on Economics inquiry into Australia’s foreign bribery laws and their implementation. Our submission is based on research conducted by the CAER – Corporate Analysis. Enhanced Responsibility, an independent environmental, social and governance research house. An increasing number
An industry out of time – Submission to the South Australian Nuclear Fuel Cycle Royal Commission
The South Australian government has launched a royal commission into the nuclear fuel cycle, and whether it is desirable to expand the industry, perhaps into power generation, fuel enrichment, and waste storage. The Commission is accepting submissions on four issues papers relating to: 1) Exploration, mining and milling nuclear material 2) Processing and manufacture of
July 2015
Submission: Inquiry into unconventional gas in Victoria
The Australia Institute made a submission to the Environment and Planning Committee of the Victorian Legislative Council Inquiry into Unconventional Gas in Victoria. Our submission addresses three myths of Australia’s unconventional gas industry: That there is a gas shortage That expanding gas supply will reduce Australian gas prices That gas development creates lots of jobs
Terminal 4 Planning Assessment Commission determination meeting
The Australia Institute made a submission to the Planning Assessment Commission for Newcastle’s Terminal 4 coal project. We oppose the Terminal 4 project. For the project’s capacity to be utilised an increase in the rate of coal extraction in NSW is required beyond the continuation and replacement of existing mines. Such increases are unlikely to
Submission on NSW Integrated Mining Policy
The Australia Institute made a submission to the NSW Department of Planning and Environment’s Integrated Mining Policy during its exhibition period. A problem with the NSW planning system relating to mine assessment in recent years has been economic assessment. There are two areas in need of reform: The quality of economic assessment and enforcement of
Submission: Report on proposed Watermark Coal Project
The Australia Institute made written and in-person submissions to the Planning Assessment Commission on Shenhua’s Watermark coal project in June 2014. The economic and agricultural assessment in the Environmental Impact Statement (EIS) for the Watermark project is flawed. It is based on biased modelling techniques and ignores the risks the project presents to the region’s
Submission: Warkworth and Mount Thorley Continuation Projects
The Australia Institute made a presentation to the Planning and Assessment Commission for the Warkworth Continuation Project in Singleton on December 18 2014. Independent assessment has shown several times that the benefits of the Warkworth Project do not outweigh its considerable environmental and social costs. Judges, peer reviewers and the wider community have found deep
June 2015
Submission on 2015 Tax Discussion Paper
The Tax White Paper is an opportunity to look at areas where the tax system is failing and how to improve it. There are many ways Australia can tax smarter and reduce distortions that the current tax system creates. The Australia Institute has identified a number of areas for reform, outlined in our recent paper
Submission to the Inquiry into Home Ownership
Housing affordability is a complex issue with many moving parts. While some parts of the problem are beyond the domain of the federal government, in particular the supply of land, the federal government can play an important role in helping make housing more affordable. Loans for residential rental property have expanded rapidly, increasing from 16
Submission: Springvale Planning Assessment Commission
The Australia Institute made a submission to the Planning Assessment Commission on the Springvale Colliery Extension Proposal. Our submission relates to the various economic assessments and reviews of economic assessments in relation to this project. Controversy has surrounded the economic assessment of the Springvale project, resulting in various assessments, submissions, responses and reviews. None of
April 2015
Corporate tax avoidance inquiry: Submission
‘Now of course I am minimizing my tax and if anybody in this country doesn’t minimize their tax they want their heads read…’ – Kerry Packer giving evidence to the 1991 House of Representatives Committee of Inquiry into the Australian Print Media Industry when questioned about his tax payments. On 2 October 2014 the Senate referred an
March 2015
Not ‘how high’ but ‘for what’?
Submission to Senate Inquiries on the Higher Education and Research Reform Bill 2014 The debate about how high fees could go under deregulation has largely missed a more important question. When students pay more, what will they be paying for? If the HELP system is a way to pay for a service, shouldn’t higher HELP
Submission: Mt Owen continued operations project
The Deloitte Access Economics (DAE) assessment of the economic impacts of the Mt Owen continued operations project has significant flaws which overstate the value of the project and mislead decision makers. The assessment does not make clear the costs and the benefits of the project to NSW, contrary to Director Generals Requirements. Instead, it compares
Submission on corporations legislation amendment (deregulatory and other measures)
The Australia Institute made a submission to the Senate Economics Committee inquiry into Corporations Legislation Amendment (Deregulatory and Other Measures) Bill 2014. Our key concern is that the repeal of the rule permitting 100 members to call an extraordinary general meeting . Repealing this rule would be an obstacle to civil society, which increasingly plays
Privatisation of state and territory assets and new infrastructure
This inquiry has been established to examine the so called “Asset Recycling Program”. In 2013 state, territory and federal treasurers agreed to the program, under which the states would receive incentives from the federal government to privatise assets in order to promote the building of new infrastructure projects. The asset recycling program will cost the
February 2015
Submission: Corporate tax avoidance
The Senate referred an inquiry into corporate tax avoidance to the Senate Economic References Committee. The Australia Institute submitted a submission to the inquiry focusing, in particular, on non-arms length licensing royalties between related parties. This submission does not address the whole field of tax avoidance.
Submission: Inquiry into Unconventional Gas (Fracking)
The Australia Institute made a submission to South Australia’s Natural Resources Committee Inquiry into unconventional gas. Our submission focuses on the potential net economic outcomes to the region and the rest of the state. The net economic effects of gas development in South Australia are likely to be small: There would be minimal impact on
Submission: Select committee into certain aspects of Queensland Government administration related to Commonwealth Government affairs
The Australia Institute made a submission to the Select Committee inquiry into Certain Aspects of Queensland Government Administration related to Commonwealth Government Affairs. Our submission focused on the use of economics in major project assessment processes. Approval processes for major projects in Queensland have seen the misuse of various tools of economic assessment. In particular
Submission: Abbott Point Port and Wetland Project and Abbott Point Dredging and Onshore Placement of Dredged Material Project
In December 2014, the Queensland Government sought submissions on the Preliminary Documentation around two related proposals to expand the coal port at Abbot Point. The Australia Institute made a submission on the Preliminary Documentation. Our submission showed that the Preliminary Documentation is inadequate as it contains no cost benefit analysis and no economic assessment of
Submission: Draft industry action plan
The draft NSW Minerals Industry Action Plan presents recommendations that maximise the interests of the minerals industry. While this is not surprising, the aims of the NSW government should be to maximise the welfare of the community rather than any particular industry. In some areas, the interests of the industry and the government are aligned,
November 2014
How the government loses 48% of company tax
The Senate Community Affairs References Committee inquiry into the extent of income inequality in Australia asked The Australia Institute for some background briefing on how the role of dividend imputation in Australia was relevant to the committee’s deliberations. This brief provides some supplementary information on dividend imputation and franking credits.
Airly Mine Extension Proposal
The Airly mine is an underground thermal coal mine in the Capertee Valley, NSW. A proposal to expand the mine is currently being assessed by the NSW Department of Planning and the Environment. The Australia Institute made a submission on the expansion proposal relating to its economic assessment. The Economic Assessment of the Airly Mine
October 2014
Coalpac: Invincible and Cullen Valley modifications
In September 2014 the Australia Institute made a written submission and in-person presentation to the NSW Planning and Assessment Commission on the proposal to extend the Invincible and Cullen Valley mines, owned by Coalpac. The mines are in a sensitive environmental area near the Blue Mountains World Heritage Area. The key points of our submission
August 2014
Terminal 4: Submission to Planning and Assessment Commission
The Australia Institute (TAI) gave evidence to the NSW Planning and Assessment Commission on the Terminal 4 project. The proposal is to expand the capacity of the coal terminal at the Newcastle Port managed by Port Waratah Coal Services (PWCS). TAI was asked to provide an expert report on the economic assessment of the project
Warkworth Continuation Project
The Mount Thorley-Warkworth mine complex is a large open cut coal mine operation near Singleton, in the Hunter Valley, NSW, owned by multinational mining giant, Rio Tinto. The mine achieved notoriety in April 2013 when the NSW Land and Environment Court ruled that it should not be approved as the benefits of the project did
Inquiry into Galilee Basin State Development Area
The Queensland Government is conducting an inquiry into a proposal to declare an official “State Development Area” over prospective coal projects in the Galilee Basin of Central Queensland and across the area between the Galilee Basin and proposed coal export terminals at the port of Abbot Point. The effect of the Galilee Basin State Development