Public benefits from LNG exports may be little more than a gas pipe dream

While standard theory suggests the Australian LNG boom will be a win for our economy, the reality suggests the benefits may not be as big or evenly shared as might be hoped

The opening of the eastern gas market to export is set to cause massive ructions to Australias economy. But while standard theory would suggest the LNG boom will be a win for our economy, the reality of poor taxation policy and a lack of a carbon price suggests the benefits may not be as big as might be hoped.

For decades now perhaps ever since Gough Whitlam reduced tariffs across the board by 25% in July 1973 free trade has been viewed as an economic good. The argument has always been that while it may hurt some businesses, the increased competition produced more efficient and productive businesses, and also lower prices for consumers.

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