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
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.
