Australia Institute’s economic circus continues with admission of latest error

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The Australia Institute has confirmed its third major economic error in as many months, with the admission today in the Newcastle Herald that its submissions against job-generating mining projects in NSW seriously underestimated the expected royalties to be generated.

 

“This is the final nail in the coffin as far as the Australia Institute’s economic credibility is concerned,” NSW Minerals Council CEO Stephen Galilee said today.

 

Earlier this week it was revealed that one of the Australia Institute’s most recent economic ‘reports’, used to attack mining in NSW, has been exposed as an economic fraud, with former NSW Treasury Secretary Michael Schur describing the Australia Institute’s claims regarding alleged state government subsidies to the mining sector as ‘grossly exaggerated’ and fundamentally flawed’.

 

And last month the former head of ABARE Dr Brian Fisher strongly refuted Australia Institute attacks on his economic modelling associated with a mining project in the Hunter Valley.

 

Now we have the very serious admission from the Australia Institute itself that the evidence they have used to argue against at least three job-generating mining projects in NSW is just plain wrong.

 

This raises serious questions about the quality of the evidence given by the Australia Institute in relation to a range of other mining projects.

 

“How many other times has the Australia Institute used dodgy economic numbers to justify their anti-mining agenda? How many other projects have been affected? To what extent has the evidence of the Australia Institute’s so-called economist Rod Campbell influenced outcomes and cost jobs, and  how many hard-working miners have had their jobs put at risk?

 

“It’s time for the Australia Institute to conduct a comprehensive audit of all its anti-mining reports and submissions and come clean on the full extent of its economic fraud.”

 

‘It’s also time for the Australia Institute to apologise to the hard working miners of NSW and their families for deceitfully campaigning against their jobs.

 

 

Contact: Chris Rath