This briefing note argues that, despite the Queensland Treasurer calling for cost benefit analysis to be done for all major government projects, there has been no economic assessment for the Abbot Point expansion proposals.
- Environmental risks of Abbot Point port expansion have been well publicised, but economic costs to Queensland taxpayers have not been widely reported.
- Nearly $2 billion has been spent on facilitating expansion of the Abbot Point coal port.
- Further spending is likely, at least hundreds of millions.
- Queensland Treasury emphasises that such spending comes at the expense of schools and hospitals.
- No cost benefit analysis or other economic assessment has been conducted, contrary to Queensland Government guidelines and statements by Treasurer Tim Nichols.
- The dubious financial viability of Galilee Basin coal projects threatens the expansion of Abbot Point and the large sums spent by taxpayers.