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Monday, 9 May 1994
Page: 425

Senator COULTER —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

  (a)notes that:

    (i)the Clinton Administration in the United States (US) has adopted a system of accounting in which the value of non-renewable resources consumed in a given year will be deducted from the conventional measures of economic growth,

    (ii)such a system, if adopted in Australia, would result in the economic indicators showing no net benefit from the exploitation and export of unprocessed, or non-value-added, resources, and

    (iii)this would provide a more accurate guide to overall benefit and would build in the principle of inter-generational equity; and

  (b)urges the Government to investigate and adopt the US practice so that Australians may develop a clearer picture of the impact of economic development on resources and on the environment generally.