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Australians need to understand budget constraints: Rinehart

GINA Rinehart has linked the risks to future investment in the mining industry to a lack of understanding by Australians about their own household budget.

In her regular column in the Australian Resources and Investment magazine, Ms Rinehart wrote that Australians used to know "you had to earn revenue before you could spend it".

"Then you had to make choices: it might be nice to have overseas holidays, but maybe we should renovate the bathroom and/or kitchen, fix the roof, do the extension, save for a granny flat etc," she wrote.

"Proper planning and allocation within the budget constraints had to occur.

"This may not be popular, but we need to get back to these basic understandings, and, very importantly for Australia, so do our overspending governments."

Topics:  gina rinehart mining industry money


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