The Latest Trending Economic News Curated for You by Balmoral Group Australia
This week's EP brings you a current story from each corner of Australia. Floodwaters continue to ravage farmers in North Queensland, leaving significant craters in sugar cane fields in the Hinchinbrook region.
In the South, the proposed Macquarie Point Stadium in Hobart struggles to convince people, particularly older residents, of its merits. The stadium would facilitate the Tasmania Devil's entry to the AFL but at the hefty cost of at least $1.2 billion. In 2022, a comprehensive business case for this project found the benefit-cost ratio (BCR) was below one, indicating that the economic benefits do not outweigh the costs.
While economic analysis is not the sole determinant of a project's viability, it provides critical insights that should not be overlooked—especially for large-scale public investments. The Macquarie Point Stadium case highlights the risks of disregarding economic evidence, as public opposition and financial concerns continue to mount. Taking economic analysis seriously from the outset could help avoid wasted time, effort, and taxpayer money.
In Western Australia abnormal marine heatwaves, driven by climate change, threaten our fish and coral, having widespread consequences for the fishing and tourism industries.
New South Wales is "in the grips of a preventable public health crisis", losing a record-breaking $8 billion in 2024 to poker machines. Check out this report by SGS Economics & Planning for South Morang in Victoria. "Our independent analysis found that any benefits were substantially outweighed by the costs that introducing electronic gaming machines were likely to impose on both the economy and community".
Calls for more recovery funding as floodwaters leave craters on north Queensland farms
It took just four days for floodwater to significantly change the landscape of Ingham cane grower Wal Giordani's farm. In the middle of what used to be a flat paddock is a 2-metre-deep crater. "There are those moments when you're struggling to think 'where do I start?,'" Mr Giordani said. Read more here.
Poll reveals Hobart's Macquarie Point stadium unpopular in Liberal Party heartland
If it wasn't already official, it is now: The proposed Macquarie Point stadium is massively on the nose among northern Tasmanians. New EMRS polling, released on Tuesday, found an overwhelming 67 per cent of people in northern Tasmania opposed the stadium while 65 per cent of north-west coasters were not fans. Read more here.
Deaths of 30,000 fish off WA coast made more likely by climate change, research finds
Marine heatwaves linked to the deaths of 30,000 fish off the Western Australia coast were up to 100 times more likely to occur because of climate change, new research has found. Waters off WA have been affected by prolonged marine heatwaves since September. Read more here.
NSW hits record poker machine losses over $8.6 billion
NSW has hit record-high losses on poker machines, totalling over $8 billion in 2024. The $8.64 billion loss shows a 6.3 per cent year-on-year increase to poker machines, according to data from Liquor and Gaming NSW. Find out more here.
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