Economic question marks arise pre-election
With the Government having thrown the country into election mode, a new report from Deloitte Access Economics has pointed to major resource projects no longer being a key economic driver after this year.
The analysis, released today, claims the mega-resources projects which accounted for much of Australian economic growth in recent years were likely to peak later this year, meaning Australia's main growth driver will no longer play a role.
"A key question for the Australian economy over the next few years will be what sort of business investment profile we see after resources investment peaks - one of gradual decline with resources investment remaining at historically high levels, or a much sharper drop-off?" the analysis said.
It said that 2013 would bring with it the due date of final investment decisions for a number of large resources projects, with the top 10 projects on the list potentially providing another $126 billion boost to Australia's investment agenda.
"What happens to this top 10 list will go a long way to answering that question," the Deloitte Access Economics analysis said.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
