October 31, 2011

Back to those forecasts

Just because Gina Reinhart is Australia's richest person does not necessarily follow that her opinion is better, or even close to being correct. Compare her forecast
the Gillard government's carbon and mining taxes will drive away investment 
with the facts
Today’s Deloitte Access Investment Monitor details a record 935 investment projects planned or underway, each worth $20 million or more. The total value exceeds $894 billion, an increase of 7.5 per cent in the past three months and 16 per cent over the past year.

Leading the way are what Access calls “an unprecedented number of mega projects” - 14 worth more than $10 billion and five of those worth more than $30 billion.