I am afraid the Aussie government is making one policy mistake...

I am afraid the Aussie government is making one policy mistake after another.

The cure for higher commodity prices is higher prices. If you cap prices, tax the hell out of companies, and cut off access to funding, you are also cutting off new supply. This means further supply shortages and even higher prices to come. What may be a convenient quick fix short term, is nothing but a shot in the own foot = more self-inflicted pain to come.

1 out of 5 jobs in Queensland is directly related to the commodity sector. These resource-related salaries pay for goods and services that keep other people employed as well. Easy to see how Queensland's and Australia's wealth is based on the commodity sector. Capping growth means capping everybody's wealth, with the working class typically being most severely affected.

The real tax rate already is at or above 50%: royalties, VAT, profit taxes, taxes on dividends, salary taxes, taxes on secondary jobs. This makes the government one of the biggest beneficiaries of higher prices. Are people happy with what they get for their tax dollars?