https://www.scmp.com/rss/515240/feed Peter Martin is Business and Economy Editor of The Conversation and a visiting fellow at the Crawford School of Public Policy at the Australian National University. A former Commonwealth Treasury official, he has worked as Economics Correspondent for the ABC and as Economics Editor of The Age. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Australia’s decision to buy three nuclear-powered submarines and build another eight is so expensive that, for the A$268 billion to $368 billion (US$179-246 billion) price tag, we could give a million dollars to every resident of Geelong, or Hobart, or Wollongong. Those are the sort of examples used by former New South Wales treasury secretary Percy Allan on the Pearls and Irritations blog, “in case you can’t get your head around a billion dollars”. Such multibillion megaprojects almost always... https://www.scmp.com/week-asia/opinion/article/3214329/australia-creating-us246-billion-out-thin-air-buy-new-aukus-submarines?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3214329/australia-creating-us246-billion-out-thin-air-buy-new-aukus-submarines?utm_source=rss_feed Tue, 21 Mar 2023 20:00:13 +0000