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New Member_Are there any Aust Owned Gold Mines Producing?
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<blockquote data-quote="user 4386" data-source="post: 642084" data-attributes="member: 4386"><p>If only it were that simple! In fact Australians are heavily invested (all Australian savings of any type). The reason we have so much majority foreign ownership is simply that Australians lack sufficient capital to start new businesses of any size without it.</p><p></p><p>Australians are great investors - 33-44% of adult Australians owned shares listed on the Australian stock exchange over the past 15 years. That does not include superannuation fund holdings (even more Australians) - which of course are invested in business. Same goes for bank deposits (the banks invest that). It is all used. So then the choice is - don't mine iron ore and get the tax and employment benefits etc, don't develop agricultural exports, don't build industries to employ people. Or invite foreign investment in.....It is not as if there is unused money sitting on the shelf that can be used - it is used.</p><p></p><p>More important to look at things like tax laws (e.g. more attention to multinationals avoiding tax), training for employment etc. Maximizing returns from that foreign money. And making sure that we have our own strategic industries here.</p></blockquote><p></p>
[QUOTE="user 4386, post: 642084, member: 4386"] If only it were that simple! In fact Australians are heavily invested (all Australian savings of any type). The reason we have so much majority foreign ownership is simply that Australians lack sufficient capital to start new businesses of any size without it. Australians are great investors - 33-44% of adult Australians owned shares listed on the Australian stock exchange over the past 15 years. That does not include superannuation fund holdings (even more Australians) - which of course are invested in business. Same goes for bank deposits (the banks invest that). It is all used. So then the choice is - don't mine iron ore and get the tax and employment benefits etc, don't develop agricultural exports, don't build industries to employ people. Or invite foreign investment in.....It is not as if there is unused money sitting on the shelf that can be used - it is used. More important to look at things like tax laws (e.g. more attention to multinationals avoiding tax), training for employment etc. Maximizing returns from that foreign money. And making sure that we have our own strategic industries here. [/QUOTE]
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