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Your IP: 34.238.138.162
URL: theaimn.com/hockey-reading-blog-using-speeches/%22Twelve%20months%20ago,%20iron%20ore%20was%20at%20$120%20a%20tonne,%22%20he%20said.%20%22There%20were%20market%20expectations%20it%20would%20fall%20to%20$95%20a%20tonne.%20We%20budgeted%20$92%20a%20tonne.%20It%27s%20currently%20$63%20and%20we%20are%20forecasting%20that%20it%20will%20remain%20around%20$60%20a%20tonne%20for%20the%20foreseeable%20future.%20That%20more%20than%2030%20per%20cent%20fall%20in%20iron%20ore%20prices%20has%20had%20a%20big%20impact%20on%20the%20budget,%20as%20has%20a%2015%20per%20cent%20fall%20in%20thermal%20coal%20and%20a%2020%20per%20cent%20fall%20in%20wheat%20prices%20since%20the%20budget.%20As%20a%20result,%20the%20forecast%20decline%20in%20the%20terms%20of%20trade%20this%20year%20is%20the%20largest%20since%20records%20were%20first%20kept%20in%201959.%20%20%22The%20government%20has%20decided%20to%20use%20the%20budget,%20which%20is%20stronger%20than%20it%20was%2012%20months%20ago,%20as%20a%20shock%20absorber%20for%20the%20biggest%20fall%20in%20our%20export%20prices%20in%20many%20years.%20If%20we%20don%27t%20use%20the%20budget%20as%20a%20shock%20absorber%20for%20this%20extraordinary%20fall%20in%20the%20terms%20of%20trade,%20then%20Australians%20will%20lose%20jobs%20and%20we%20will%20lose%20our%20prosperity.%22
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Time: 2024-03-28 11:33:35
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