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No wonder we're Capital Starved!

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moorookamick

21,975 Posts.

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13/09/20

09:10

Post #: 47298193
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Originally posted by moorookamick: ↑

The poinient point in the article is that we are a capital intensive economy primarily due to mining (which is 86% foreign owned with that %age of profits goes overseas.) This is an inconvenient truth for Mr Eslake who's bank is majority foreign owned and who's bulk of profits go overseas.

Abbott# snuffed out the MRRT before it gripped and, if it had continued, it could have added at least $30 billion extra to the Comm Government's tax take since 2013.

Super funds were allowed to invest in domestic housing which has simply put up the price of domestic property without adding to its utility value.

IMO, because our chief national asset is our natural resources, we should have a National Soverign Fund driven off our national (finite) resources
so that, like Norway , all Aussies can benefit from our natural resources.

# Abbott acted then for the foreign multinationals who own our mines and now he's acting for the UK!
What the hell was all the furore about MP's dual citizenship about when after being a party to the nation's secrets as PM, he is allowed to now act for a foreign power! (Tell trump that there is no connection between National Security & Trade...eh?)

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No wonder we're Capital Starved!
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