You'll recall our distinguished captains of industry and business leaders recently claiming that a company tax cut was urgently needed in order to shore up investment in Australia, because otherwise capital would flee to countries which valued business more than we do.

With the government having given up its plan to hand a tax windfall to big business, the extent of that capital flight is now becoming clear, with September quarter investment data from the ABS this week revealing... um, well, an 11.3% rise in expected spending, the strongest increase in 19 years.