Twiggy inquiry dies at wall of opposition

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Well, they can’t wait to abandon the good ship Twiggy Forrest now. I’d like to say its an outbreak of good sense but I suspect it’s more like a response to intense lobbying and a wish not to be caught out on a political limb. The leader of the opposition, Bill Shorten, is suddenly all backbone, from The Guardian:

“I have grave concerns about such an inquiry and the prime minister and treasurer’s stated position in support of it,” Shorten said on Wednesday night, suggesting an inquiry could cost Australia iron ore sales to China and Japan.

“It also sends a terrible signal to customers and flies in the face of commitments to our largest customers such as China and Japan that they can count on secure supply at sustainable prices.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.