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
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.