Australia’s coal economy represents 4.2 per cent of Gross Domestic Product or almost $60 billion. This is about the same size as iron ore and agriculture (at the farm gate). The coal investment pipeline consists of 93 projects worth approximately $118 billion. Australia’s coal industry makes a significant contribution to Federal and State governments every year in the form of taxes, royalties and charges, including company tax, payroll tax, fringe benefits tax, land taxes and charges for transport and port services. Over the next four years, Australia’s coal industry will pay $18.3 billion to state governments. This will build hospitals, schools and roads. On top of those payments to state governments, the coal industry will contribute more than $10 billion in tax to the Federal Government.
Calculate the yearly contribution of car manufacturing and compare. Not even close. Its a fools argument. Renewables the same. End of story.
Monthly value of motor vehicle exports since 1988 ($millions)
