Isaac River, page-9

The ever increasing intervention of state and federal governments in free markets has serious repercussions. Short term money grabs and the Woke Wall of green tape is stifling for free enterprise. It can be likened in the energy industry to having "the goose that layed the golden egg" and serving it up for a once off roast. Below is the start of industries response, which leads to less exports, less gdp, less tax revenue, less state royalties. less jobs, a fall in standards of living and higher inflation, which is the beginning of stagflation (high inflation negative growth). Australia has 7 million of 26 million people in full time employment, and 30% of these are on government payrolls. So 5m people are income producing out of 26m, and here we have legislation aimed at making that worse.

Mining giant Glencore has raised the alarm on the risks of doing business in Australia, saying an array of government interventions and tax rises have led to the nation falling behind Canada as the world’s top investment destination for commodity producers.

Chief executive Gary Nagle visited Australia last week to tour the company’s mines and hold meetings with politicians in Canberra and said the nation had become a more difficult prospect as it weighs where to invest across its global operations.

“Australia has become more challenging. It’s generally acknowledged in the industry that Australia and Canada were the benchmarks in terms of secure investment jurisdictions. What we’ve seen over the last 12 months or so is some gap opening up between Canada and Australia,” Mr Nagle told The Australian.