Australian Government Backs BHP and Qantas

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Dec. 16 (Bloomberg) –- Bloomberg’s Paul Allen reports on Prime Minister Tony Abbott vowing the Australian government will do everything possible to help BHP with their mine expansion and Qantas with the possible relaxing of the foreign ownership rule to stay competitive with Virgin Australia. He speaks with Mia Saini on Bloomberg Television’s “First Up.” (Source: Bloomberg)

The national airline.

It is pretty much a delaying the expansion of the olympic mind.

Let's bring in paul allen who joins us from sydney.

Let's talk about where we are at.

The bhp olympic dam extension has been the falling prices.

This is set to be something like 33 billion dollars.

It would have become the world's largest uranium mine.

It has become mired down.

They are marking the first 100 days in office.

Tony abbott has said he wanted everything to make sure this project goes ahead.

They could use a big infrastructure project right now.

Last week we had the news.

They're going to department 2017. it deftly will be some good news.

There's also some suggestion that the government might step in and assist qantas.

That would not be in the form of direct funding.

Some discussions he cap it might be talking about maybe a day guarantee.

Qantas is certainly in trouble.

It could use some help.

Particularly for step competition from virgin which is not there yet.

These companies all have a very deep pockets and have really been taking the fight to qantas to must agree.

Marking the first 100 days, the government has certainly gone to the headlines for a couple of friendly stories.

Tomorrow we are expecting some pretty horrible news.

We are expected to see the deficit figure between $40 billion and $50 billion.

They're trying to hang the blame for the labour government.

We will find not just how bad

This text has been automatically generated. It may not be 100% accurate.

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