Yesterday The Australia Institute released our most recent research paper on the economic impacts of the mining boom “Beating Around the Bush: The impact of the mining boom on rural exports” . The full report is available here
Some of the headline figures are that last financial year the rise in the Australian dollar as a result of the mining boom has cost Australian farmers $43.5 billion in export income, including $14.9 billion in 2010-11 alone.
This represents a decrease of 41 per cent in export income because of the high exchange rate attributable to the mining boom. This cost the beef industry $2b last year alone, and the sugar industry over $500m.
These same effects are also impacting the tourism, manufacturing and education industries
The issue was reported widely in the media, including;
The Weekly times
Queensland Country Life
The Brisbane times
The Mackay Mercury
The Toowomba Chronicle
The Morning Bulletin (Rockhampton)
We also hosted a public forum at the Museum of Queensland last night on “Why the coal and Gas boom matters to you”. Speakers included
- Richard Denniss; Executive Director The Australia Institute.
- Nina Murray; Grains Policy Director, AgForce
- Andrew Dettmer; National President Australian Manufacturing Workers Union.
We believe that the impact of the dramatic expansion of coal and gas mining on other industries is the single most important issue facing the Australian economy. It was great to hear these agriculture and manufacturing representatives expressing their concern about the impact of the mining boom on their industries.