There are sound economic, environmental and political reasons to veto Adani’s loan.
(1) Stopping the NAIF loan to Adani means more money for projects in other industries, like tourism, agriculture, manufacturing and renewable energy.
(2) Poll after poll shows Queenslanders, like the rest of Australia, oppose the Adani taxpayer loan and want this money put into other industries.
(3) Adani’s jobs claims are overblown.
(4) Mining is capital intensive, while other industries are more labour intensive; massive investment in mining supports fewer jobs than in other industries.
(5) Coal mining is a relatively small employer, even in North Queensland.
(6) The government should stop funding mining projects, as they don’t need help, according to the Productivity Commission.
(7) Adani has said repeatedly they don’t need the loan.
(8) Subsidising new coal mines would hurt both existing coal jobs and the climate.