Published on : Jun 24, 2014
The Queensland Resources Council’s economic analysis report will embarrass the North Korean government.Michael Roche, QRC chief executive said the report released on Tuesday by the Australia Institute would have to accept this part of the act.
The report reviewed and included the state government business expenditure on mining subsidies, but however it did not include the other side of the balance sheet. The report outlines the entire range of subsidies for the mining and resources sector, added Mr Roche.
In fact what he thinks is the report sets out the expenditures by government business enterprises. This caters a whole range of commercial services to resource companies and others. The business enterprises include expenditures of rail services, port services, water and power. These business enterprises make a profit and pay off the dividend to the state government. It is not a subsidy though.
According to Mr Roche, the report was a \"dishonest\" representation of the sector. Around 99% of spending outlined in the report is of commercial activities of government business enterprises, while the rest 1% represents the activities of the mines department. He is not surprised because the above mentioned facts are foundation members of the anti-coal, anti-gas movement.