I contend that we are both atheists. I just believe in one fewer god than you do. When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.
The risk is increasing of renewed build-up of inflation pressure, from energy and wages.
If the consumer price data confirm an acceleration in inflation then there's a real risk the bank could tighten as soon as November.
It does take a lot of pressure off the Reserve Bank. It's hard to get persistent inflation without wages pressure, and hard to get wages pressure with employment easing.
The bottom line is that DES couldn't in a lawful manner authorize the continued connections to the plant.
A lot of plants were designed and built during the 1970s,.. There's a 20- to 25-year design period for those plants. That gets us to 2005, which is why plants such as Allenstown are about where they are.
Productivity hasn't met the high hopes held out for it and, as a result, has pretty much dropped off the radar screen for economy watchers.
It doesn't happen very often. We prosecute to the fullest extent of the law.
We believe a consultative process that involves all firms is an appropriate approach.