RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Anarcho-Capitalist NEWS: Cash-in-hand economy and illegal drugs trade flourishing in OZschwitz - YaY! Thu Sep 12, 2013 6:14 pm | |
| Australia's black economy and illegal drugs trade are officially worth $30 billion a year.
The Bureau of Statistics has estimated the nation's "underground production" - otherwise known as the cash economy - is worth 1.5 per cent of gross domestic product or about $24 billion a year.
The annual trade in illegal drugs is worth another 0.4 per cent of GDP or about $6.5 billion a year.
The bureau said the cash economy thrived in sectors of the economy where there was a low level of regulation and a high proportion of cash transactions. Advertisement
"It is concentrated in industries such as construction, accommodation, cafes and restaurants, personal and other services, and retail trade," the report said.
Read more: http://www.smh.com.au/national/cashinhand-economy-and-illegal-drugs-trade-costing-australia-billions-20130912-2tnmv.html#ixzz2eieoVGW1
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