Insolvency claims a record 14,716 businesses nation wide year end to June 2025
From Barnaby Joyce, National Party MHR for New England
Magicians aren’t magical they are just very tricky. They train for years to make you believe something that is merely a contrivance appear as a fact. If they are good they can make lots of money from their stage show.
Net Zero, with conjurers contriving they are bringing back the frosts, is making massive amounts of money. Unfortunately, things are really disappearing such as heavy industry and our standard of living. What the climate magicians want you to believe you are seeing is lower power prices and “renewable jobs”.
In the last week BlueScope Steel has said that energy prices at the level they are makes the Australian steel industry unviable. The price of energy in the USA is multiple times lower. Ampol has said that energy prices are putting massive pressures on one of the two last refineries in Australia. We just can’t compete with fully refined fuel from India.
Here are some more disappearing industries: Whyalla Steelworks is on its knees, operating under administration in South Australia. Tomago Aluminium smelter in the Hunter Valley, New South Wales, specifically lists the high cost of power and the cost of running a 24/7 plant on renewable energy as being the core issue of the pressure to close.
Nyrstar smelters, which in Port Pirie, South Australia produces multi-metals, and in Tasmania, zinc, are operating at substantial loses, listing tighter government environmental regulations as the reason. It is unclear how these smelters can compete with China which has cheap coal fired power. Qenos petrochemical plants in Sydney and Melbourne are in the process of shutting their doors and the last company making architectural glass panels has closed.
Australia now has the lowest share of manufacturing employment of any OECD nation.
What Australia, in this time of Net Zero magic has achieved, is business insolvencies surging to a record high over the past year. A total of 14,716 businesses fell into some form of insolvency in the year to June 2025, a 33 percent increase on the previous year, with construction and hospitality the two industries taking the biggest hit at 40%.
But the greatest magic of Net Zero is that people still believe in it! They believe that even though it has zero chance of doing anything to the whether it is worth it to “send a signal to the world”. What signal? That we are off our heads?
Where could we learn magic tricks like Net Zero? Well, these magicians who are getting paid insane amounts for their stage show seemed to have learned their craft in merchant banking. The taxpayer funded Capacity Investment Schemes underwriting their income is truly a rabbit out of the hat. But magicians never give away their tricks and the financial details of the Capacity Investment Schemes underwriting their intermittent power projects is the biggest secret in Canberra.
