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Russell Broadbent: Protecting Australias industry, middle class, and energy security in the face of global challenges

Russell Broadbent highlights the impact of high energy prices on Germany's industrial economy, warning Australia to avoid similar deindustrialisation. He calls for reliance on local natural resources to sustain industry and middle-class prosperity.

By news@gippsland - 3rd December 2024 - Back to News

When you think of Volkswagen, you think of Germany. For Australia, that used to be Holden, except we don't make them anymore - what a shame. But for the first time in the 87-year history of VW, they are considering shutting down operations in Germany, and moving elsewhere.

Deindustrialisation leads to lower wages and a shrinking middle class. Australia must leverage its natural resources to maintain opportunity and a strong economy, according to Russell Broadbent

Energy policy warning

Germany is far down the road of the net zero-renewables pipe dream and are now paying dearly for it. This is a lived experience of what high energy prices do to an industrial economy, and we should take serious note. High electricity prices in Germany are undeniable proof that the reckless race to renewables and the net zero ambition is out of touch, and out of reach.

Deindustrialisation of a naturally industrial economy results in lower paid jobs and a smaller middle class. Wage growth in Germany had been booming since the nineties, but is now falling rapidly. With many of the population turning to unproductive and low paying jobs in the 'care economy' as our Treasurer likes to call it.

Australia prides itself on a strong middle class powered by a strong industrial and small business economy. It really is the land of opportunity, but the only way we keep that title is if we go back to using the natural resources that we are so lucky to have right here in our backyard. Australians depend on an industrial standard of electricity, and without it, we will ALL be paying the price as taxpayers and as consumers.

Pictures from Russell Broadbent MP website.

Source: http://gippsland.com/

Published by: news@gippsland.com