<
https://theconversation.com/how-can-australia-pay-368-billion-for-new-submarines-some-of-the-money-will-be-created-from-thin-air-202150>
"Australia’s decision to buy three nuclear-powered submarines and build another
eight is so expensive that, for the A$268 billion to $368 billion price tag, we
could give a million dollars to every resident of Geelong, or Hobart, or
Wollongong.
Those are the sort of examples used by former NSW treasury secretary Percy
Allan on the
Pearls and Irritations blog, “in case you can’t get your head
around a billion dollars”.
Such multi-billion megaprojects almost always go over budget.
For instance, when Prime Minister Malcolm Turnbull announced the Snowy Hydro
2.0 pumped hydroelectricity project in 2017, it was supposed to take four years
and cost $2 billion. The latest guess is it’ll actually take 10 years and cost
$10 billion.
So to pay for those two megaprojects alone, there’s an awful lot of money we
will need to find from somewhere. Or will we?"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
