Economic Report

The Economic Impact of LNG Exports on Manufacturing and The Economy – How should we respond to the looming crisis? By BIS Shrapnel

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Key findings:

Rising gas prices will have a significant impacts on the Australian economy:

• One in five heavy manufacturers will shut down within five years
• Total manufacturing production will be reduced by 15.4 per cent by 2023
• 91,3000 jobs will be lost in this period as a direct result of manufacturing shutdowns, with 235,000 jobs to go economy-wide