Miners demand stable tax settings as PM heads west
Australia’s resources sector is calling for gas projects to come through and tax settings to remain stable as Anthony Albanese directs budget sales towards the west of the country.
The Prime Minister will roll out Labor’s economic plan in Perth on Tuesday as post-federal budget polls show voters lashing out after the government broke its promise not to touch negative gearing or capital gains tax.
Mr Albanese said Labor had always thought “major reform” would be difficult to sell.
“This is a tax reform that has been called for for a long time, to treat income from work (as most people do) much more equally with income from assets… that’s what we’ve put forward,” he told ABC radio on Monday evening.
Minerals Council of Australia chief executive Tania Constable said the resources industry wanted the government to improve investment conditions and competitiveness.
“We need gas projects to come to fruition through better regulations, stable tax settings, balanced workplace relations and ongoing work on port, rail and road infrastructure,” he told AAP.
“The industry will (with the prime minister) raise the fact that the entire resource industry is important to the Australian economy.
“We are the sector that contributes greatly to the profitability of the budget.”
Ahead of the budget being delivered last Tuesday, Mr Albanese flew to Western Australia to address a key resource efficiency issue amid calls to increase taxes on gas exports.
There, he announced more than $45 million in funding to advance bilateral environmental agreements with states and territories to speed approvals and eliminate duplication for new projects.
The prime minister has worked hard to bolster the vote in WA, as the state has proven key to bringing Labor into office.
Mr Albanese will also face pressure to reaffirm his commitment to the GST deal reached between former premier Mark McGowan and former Liberal prime minister Scott Morrison during his visit to the resource state.
The agreement guarantees a refund of 75 cents of the per capita share of the goods and services tax.
The deal is being reviewed by the Productivity Commission, which will submit its interim report to the federal government by the end of August.
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