Ms Read continued, “Australia will pay a heavy price with job losses across the manufacturing sector. This is a double-whammy hitting everyday Australians who are already struggling at home with rising power and gas bills.
“The 2014 Deloitte Access Economics Report forecast losses of 14,500 jobs between 2014 and 2021 in net present value terms, due to rising gas costs and constrained supply.
“There are real industry concerns the job losses may be higher than forecast. The modelling applied was based on gas in the $8 to $10/GJ range, but anecdotally we are hearing of $12 to $16, and even higher prices.