ExxonMobil is undertaking an LNG project in Papua New Guinea (PNG) with setup expenditures in 2010-2012 of $A12 billion and annual export revenue averaging $A4 billion (2010 prices) over 2013-2042. These are huge numbers relative to PNG's GDP and exports ($A10 billion and $A6 billion in 2010)....

The Productivity Commission claims on the basis of computable general equilibrium modelling that a seemingly small reduction in assistance to the Australian Automotive industry (a cut in tariffs from 10 per cent to 5 per cent and elimination of the ACIS scheme) would generate an annual welfare...