AUSTRALIA'S mining boom is showing no signs of easing and many huge projects are in the pipeline, a leading economic forecaster says.

Access Economics said the total value of definite projects in the September quarter is now $178 billion, an increase of 20 per cent over the previous year.

The value of projects in planning had reached a staggering $357 billion, its report, released today, said.

Spokesman Chris Richardson said there was already a mature investment boom in Australia.

"We already have investment as a share of national income higher than we've ever seen before," he said on ABC radio.

"Yet atop that, we're getting big projects getting the tick at the moment. In other words, what was already a boom is becoming a bigger boom. It's pretty impressive."

Mr Richardson said the outlook in China and India had been strengthened, commodity prices were still good and there were expectations that many of them would continue to rise.

"Because of that, more and more mining projects are getting the tick," he said.

"Businesses have a very optimistic outlook of where the Australian economy is headed and they're putting their money where their mouth is.

"As far as businesses, particularly businesses in mining and resources, they're clearly very confident."

Finance Minister Nick Minchin told the program it was no time to risk the economy with a change of government.

"It is legitimate for us to forewarn Australians that a return to Labor could well see a return to the bad old days where the strong growth that we have ends in tears," he said.

Labor treasury spokesman Wayne Swan said the report showed the impact of the Government's neglect of skills and education more generally, on the economy and the capacity of the economy.
"That failure is now reflective in higher inflation and higher interest rates," he said.

- Daily Telegraph
November 6, 2007