Who’s going to plug the yawning chasm in the green/Left government’s budget now? There are no “mining super-profits” to tax and the carbon tax is imploding before it even gets going.
A plunge in the prices of Australia’s export commodities as well as high labour and construction costs will stall $100 billion of mining and energy projects, as companies scramble to reassess their long-term investment pipelines.
Analysis by The Australian Financial Review of the federal government’s Bureau of Resources and Energy Economics’ major projects pipeline shows more than a dozen big developments in the less advanced category will be further delayed, endangering the next phase of the resources boom.
