Do-nothing Malcolm takes coal pork north

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If you want to know why Do-nothing Malcolm suddenly loves coal then look no further than this:

The opposition leader just wrapped up a two-day visit to the sunshine state selling Labor’s $1bn tourism plan, flying out as Turnbull flies in.

But where the opposition leader sought to better promote one of the state’s best features – its endless sunshine – Turnbull is focused on energy, vowing north Queensland will receive a new power station under his government, if the LNP leader, Tim Nicholls, pulls off an election win.

“I’ve been talking to Tim Nicholls, who I hope will be the next premier of Queensland, about the potential for a new advanced high-efficient low-emission power station,” Turnbull told 4BC radio on Tuesday. “If Tim becomes premier, and the state decides to build one.

“Obviously there is a substantial amount of funds in our northern Australia infrastructure fund, that is available for infrastructure. A power station ticks that box. It is definitely infrastructure.

“It would be completely depend on an LNP state government, because Annastacia Palaszczuk, for reasons she could perhaps explain, is absolutely opposed to any further investment in coal-fired energy in Queensland, despite the fact Queensland has enormous coal resources it is exporting to the world.”

The NAIF, the jewel in Tony Abbott’s plan to see northern Australia become an “economic powerhouse”, is administered by an independent body which has access to $5bn in concessional loans.

The structure of the fund keeps the $5bn off the government’s books, with the government only accountable for monies lent. So far, the fund has approved no projects, prompting a rethink on how it is used.

It’s all about One Nation votes as it destroys the Nats.

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.