Carbon and mining taxes restore confidence

3/12/2014

Today, Federal Member for O’Connor Rick Wilson and Minister for Industry Ian Macfarlane reminded the Australian public of the government’s achievements in meeting two of its key pledges; removing the carbon and mining taxes.

At the conclusion of Parliament tomorrow, the Coalition Government will have completed one full year in office.

During question time today Mr Wilson asked the minister for an update on how delivering the repeal of the carbon and mining taxes has benefited industry and the Australian economy.

The Minister responded with a complimentary answer thanking Mr Wilson for the great work he does in his community and in helping the businesses and the miners in the electorate of O'Connor.

“He understands…the confidence that has been restored to those sectors following the repeal of the mining and carbon taxes.

“It is just two months since the government abolished the mining tax, freeing up the resources sector, creating jobs and confidence and helping to combat the downward pressure that is on commodity prices.

“We just had to get rid of it because of the effect that it was having on the mining industry with respect to confidence and, by getting rid of it, we have saved the budget almost $50 billion over the next 10 years,” Minister Macfarlane said.

On the back of the repeal the Association of Mining and Exploration Companies said, “… the repeal of the mining tax will go a long way to restoring Australia’s international competitiveness and increasing investment to stimulate the sector.”

Minister Macfarlane said not only did repealing the mining tax restore confidence but repealing the carbon tax has gone a long way in helping businesses not only survive and compete but create new jobs.

“Again, can I quote from a business in the member for O'Connor's electorate, Fletcher International WA, the largest export abattoir based in Albany.

“It said: 'It was weight in our saddlebags'—that is, the carbon tax—'that we certainly didn't need. We are one of the last meat industry manufacturers in Australia and the extra cost from the tax was an impost borne against us.'

“Even the City of Kalgoorlie welcomed the ridding of the carbon tax.

“What that shows is that at the end of almost a full year of our being in office and when we reach the end of 2015 not only will we have achieved two of our key pledges but that we are taking the pressure off industry and creating confidence, which will allow industry to do the one thing that is critically important if you have a strong economy and that is to create jobs,” Minister Macfarlane said.

ENDS
 

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