Australia’s fuel crisis is just the first domino to fall
Rebuilding our lost sovereignty will require government to rein in profligate spending on industry losers and stop treating the budget as a bottomless well.
Australia can’t afford to rely on the “set and forget” globalisation that once defined our prosperity. The events of the past week are a reminder that we need to get our priorities right at a time when our east coast energy system is creaking and the federal budget is forecast to be in deficit for years.
Notably, the Albanese government doubled down on propping up uncompetitive manufacturing industries. Industry Minister Tim Ayres announced a $2 billion rescue package to save 2000 jobs at the ailing Boyne aluminium smelter in central Queensland and reaffirmed its desire for a similar commitment for NSW’s Tomago smelter.
