Quote:
Originally Posted by Outcast
Umm, Ilya.. actually it's not huge money for our economy at all... it represents currently 3.5% of GDP.. (& that figure is as a result of a spectacular price increase in 2018).
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Not exporting coal will not create a GFC for Australia..., seriously, it just won't
If our economy teeters on the brink as some would have you believe from a loss of 3.5% of GDP then, this country is already in dire straits...
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My statement about GFC was more related to cutting off fossil fuels globally and not to Australia only. I probably phrased it badly.
Well.. I agree - 3.5% from $100 is nothing - just a cup of coffee, but our spending on entire health care is around $33B - twice less than what we've got from coal export. Is that insignificant on such scale? I doubt.
And yes, $50B tax cuts just add pressure on the already bad economy, so I'm just not sure why we need to aggravate that even more.