Crank up mining royalties on Iron ore, page-193

Your wealth will be destroyed by recession and China is hell bent on driving us into an even deeper recession for political reasons.
We are at an RBA interest rate of 0.1%, by far the lowest ever, which sends a signal to all and sundry that we are headed for Depression.
The pollies will spruik and do what politicians do: stay in power at all costs.

We are a relatively small country with 25 million people and a rather simple economy so, IMO, its nor rocket science to look to our strengths
to position Australia to forge its industrial future. We have the best/cheapest iron ore, coals, LNG & bauxite so it is logical to optimise Aussie
value for Australia & Australians (not Multinationals) from these 'lucky" assets.

We can do that via downstrem processing of our minerals in SEZs.

Take iron ore at present:
Australia exports over 800 million ton per year mostly to China

if we process 10% of this into high quality steel (say high quality pipe & pipe fittings which is the biggest segment of global steel exports),
that would amount to 40 million ton of finished steel with an export extra value of $180 billion. This would add about 8% to our GDP and of course
$180 billion to our Trade Surplus.

This is based on material input of 2 ton iron ore, 750 kg of met coal + lime per ton of steel amounting to $500 material inputs.
The export value of premium pipe & pipe fittngs is $5K AUD/ton.

That was so in the past, yet since 2014 our Comm , State & Muni Governments have borrowed $800 billion so that we all can live above our means
while this Government has turned a blind eye to multinationals; many of which have paid little or no corporate tax in the interim. In other words, the Governments can find loads of money for deficit spending but they are reluctant to find money for industrial development that secures Australia's economic future. We can also spent $300 billion on armed forces hardware & ammo which I can assure you are rapidly depreciating assets.