Eight years into a seemingly never ending resource boom, Australia is now
plundering a million tones of minerals every year from the ground. New
industries such as LNG have signed contracts to quadruple exports in the next 10
years and will soon rival coal and iron ore in export earnings.
It is a vast and
vital natural resource that governments appear to be willing to fritter away
frivolously at disgracefully low tax rates. That is the central thesis of Paul
Cleary’s new book “Too Much Luck: The
Mining Boom and Australia's Future”. Cleary was at QUT in Brisbane last
Wednesday to speak about the problems his book addresses.
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