The author ignores the long term effects some industries can have on the balance of payments and having too many such industries can spell disaster.

Australia has almost exhausted its reserves of liquid fuels. Ten years from now can Australia afford to import all our liquid fuel needs together with all our cars, trucks, rail rolling stock, TVs, washing machines, shoes and clothing, refrigerators, fasteners, etc.?

What will we be able to export to pay for those imports? Hopefully the author would not suggest we pay by living off depleting assets such as iron ore and coal.

Coal is too valuable as a reducing agent for metal production to be burned simply for its thermal value or to sell so our professional people can buy their Mercs or Beemers.

The rot set in with the Modern Member's advocacy of "free trade" and too many gullible people fell for it.

Australia had, at the end of WW2, and now needs again, an Industry Policy.

Australian politicians are trapped by the Westminster system and the electoral cycle. The administration system needs to be separated from the law making system without somehow falling into the traps in the USA presidential system.

I believe we should subsidize. But selectively. We need to keep producing and processing food, given our clean green image goes down very well in Asia. And in the fullness of time, will queue to get our produce! We couldn't hurt that outcome with the creation of an inland shipping canal, very rapid double Decker rail, and a fleet of nuclear powered submersible roll on roll off ferries.
Norway already builds roll on roll off ferries, that are partly submersible, for reasons of stability, and presenting a smaller profile to problematic side winds?
For mine, its not a huge technological leap, to submerse them to periscope depth, to completely eliminate weather as a factor, and most pirates?

We can't afford to build these projects?
Why not?
We have well over a trillion resting in our own super funds, and fund managers crying out for long term visionary projects, that will still be earning a quid, long after any who read these lines, are pushing up the daisies!
The only thing that stands in the way of these and many other advances, I believe, are mantra muttering morons, on both sides of the political divide?
We need to subsidize a vehicle industry. Namely, gas powered electric vehicles. that finally solve the one thing holding back the electric vehicle industry, lack of adequate range! I believe that's eminently more sensible, than paying out 26 billion per for a product we have huge reserves of under our feet or Continental shelf! And in general use, creates 75% less emission!
Once you've driven an electric vehicle, you'll never want to drive anything else!
Rhrosty.

Great article. Business welfare is not just economically damaging its unfair.
Foyle
Markets adjust. Exchange rates adjust. We will continue to trade by producing things we’re relatively good at producing and importing things other countries are relatively good at producing.

Rhosty
The trouble with many of your proposals is that they would cost far more than the benefits they would deliver.

And please keep your hands off my super. It is not yours to give away.

And please keep your hands off my super. It is not yours to give away.
Ryan,
Well, neither is taxpayer money to prop up up your Super. Fair ?

CRONYISM!
Its everywhere - in every business, every government department - it is the very fabric of our economy. It determines who we employ, who are our suppliers, who wins the contract, who gets the seat in parliament and who a seat at a boardroom. And whilst it has always been present, as its kind of normal, its also become more and more the way of things.

It is a far too complex web of cause and effects for the scope of a thread.

Individual

I pay tax on my super savings, and I will pay tax on the income they generate when I retire.