Report

Australian government becomes foreign finance broker for Adani?

Publisher
Federal government Government expenditure Government accountability Coal Australia
Description

The government appears to be soliciting foreign funding for a project that stands to benefit from substantial subsidies. Any foreign investor would benefit from subsidised government loans which transfer cost and risk onto the Australian taxpayer. Foreign funders may get repaid before Australian taxpayers, and if the project collapses, may get repaid even if Australian taxpayers don’t.

Involvement from foreign import-export banks could be yet another subsidy, to support foreign suppliers. It would be surprising if the Australian government were promoting foreign over domestic suppliers.

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