According to the SMH today:
The surging Australian dollar ranks as a far bigger influence on profitability than the threat of further interest rate rises, a survey of chief executives says, in a sign of the growing strain the currency is placing on many companies.
The Australian Industry Group CEO survey, to be published today, underlines the challenges of the mining boom by nominating the high dollar as the top concern of business bosses - on a par with preparing for an economic upswing.
Well, no shit Sherlock.
As admirable as the team at AI Group is, this can hardly rate as kick-ass lobbying. A gentlemanly survey, of gentleman, by gentleman. It reeks of failure.
Where are the tactics deployed so effectively by the miners during the RSPT debacle? Terror, calamity, apocalypse! Investment collapse! Unemployment surge! HOUSE PRICE BUST!
We already know that this Labor government is a soggy lettuce when it comes to vested interests. The Opposition is an idiot but is trying to make noises on the issue. Give them something to run with.
Are you telling me Bob Katter, Tony Windsor and Rob Oakschott wouldn't be sympathetic to the parallel plight of manufacturers, education, tourism and agribusiness?
Seriously, if you want in, contact me at email@example.com.
Robert Gottliebsen, the past master of business hysteria and author of the "RSPT will crash house prices" meme offers a terrific insight into the kind of 'lower the dollar' campaign we need. From Gotti:
But the rise in the Australian dollar and the fear that eventually China will cave into the US demand to lift the yuan has turned off the China buying tap.
Suddenly Sydney apartments look expensive to those same Chinese investors and they can see the potential of a price decline. It seems better to leave their money at home.