FRASER: STOP ‘UNDERSELLING’ STATE AS MINING ECONOMY

Written on the 21 November 2011

FRASER: STOP ‘UNDERSELLING’ STATE AS MINING ECONOMY

ACTING Premier Andrew Fraser (pictured) has warned the business community against describing Queensland as a ‘mining economy’.

Speaking at an Australia-Israel Chamber of Commerce Young Business Forum last night, Fraser claims that sticking with the concept risks ‘greatly underselling the state’.

“We shouldn’t say we are a mining economy, because it’s a concept reflected by history more so than the truth,” says Fraser.

“It’s like me saying my wife’s grandparents are all Irish and my kids are roughly 15 per cent Irish – and therefore all Irish (when) they are not.”

Queensland’s mining industry only accounts for 2 per cent of state-wide employment, says Fraser.

“We conceptualise our economic prosperity by photographs on newspapers and in our minds of the number of ships off the coast of Mackay,” he says.

“But no one thinks that because we don’t have a National Broadband Network people around Australia, who are working on value-added products shooting off to the US and Europe, (lose business because) the internet is dropping out. That is as economically significant as ships waiting offshore from coal terminals.”

Fraser claims the state’s ‘economic destiny’ will be fulfilled by reaching people with value-added products, applied research and up-skilling.

“To not do so, is to recognise that they are on a one-way ticket that has no end point,” he says.


Latest News

NEW CLASS OF EDUCATION NURTURES ENTREPRENEURS OF TOMORROW

THE rise in youth unemployment has affirmed the importance of entrepreneurship education, and south-east Queenslan...

DUET GROUP SUBJECT OF $7.3 BILLION TAKEOVER OFFER

HONG Kong's Cheung Kong Infrastructure has launched a $7.3 billion cash bid for one of Australia's largest en...

G8 SHARES BUOYED BY FORECAST PROFIT RECOVERY

CHILDCARE centre operator G8 Education (ASX:GEM) has revealed it is on track to post a pre-tax profit of up to $16...

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory...

Related News

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount ...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter