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.
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