Sky News Business Editor Ross Greenwood says the increase in commodity prices is boosting the economy by more than $35 billion - in particular iron ore is a standout with a $2 billion impact on government revenues. "The Commonwealth Bank thinks the increase in the Iron Ore price just this year alone has an impact on the budget, on the government revenues, of $2 billion," he said.
"But in terms of the overall economy more than $35 billion - so let alone any other stimulus, any other borrowing and spending the government's doing - that's a lot of money. "Then with copper prices also - seeing new record prices USD$10,000 a tonne - it really is a situation whereby there's even more money coming through the government with company taxes and indeed with royalties that it picks up from all of these commodity price increases.
Ross_Greenwood Let's get China back on board