Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ’s subsidies of coal and rail are nothing like Australia’s

NZ’s subsidies of coal and rail are nothing like Australia’s

By Pam Graham

June 24 (BusinessDesk) – Australian state governments spent A$17.6 billion on subsidies for mineral and fossil fuel industries over six years, including A$8 billion to help transport coal, according to a report.

The Australia Institute says it’s the first time state subsidies have been added up and they are on top of Federal subsidies, estimated at A$4.5 billion in 2013.

The report reveals the extent of Australian state government support for rail infrastructure for mining companies at a time when New Zealand is rebuilding its rail network and bailing out state-owned coal miner Solid Energy, a major rail user.

Transport Minister Gerry Brownlee recently told parliament the government has poured billions of dollars into KiwiRail after the previous Labour-led government bought back a lemon.

“Sometimes it's hard to kick life into something that's fundamentally dead," he said.

The Australia Institute calculates Queensland has kicked more than A$7.6 billion into coal transport and concessions over six years.

Queensland’s expenditure on mineral and fossil fuel industries in 2013-14 is similar to the amount spent on disability services and capital expenditure on hospitals.

The Queensland government spent A$831 million on the Goonyella-Abbot Point Expansion, mainly between 2010 and 2012. The project, located in central Queensland’s Bowen Basin is often referred to as the missing link project, as it connected two coal railway systems. It enables coal mines that were previously only able to ship coal out of Hay Point, near Mackay, to rail coal to Abbot Point near Bowen.

The report also says those hailing rail privatisations in Australia as a successes haven’t always counted the subsidies put into the companies before they were sold.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news