Minerals Council of Australia
National accounts data released today by the Australian Bureau of Statistics (ABS) confirm that mining production remains a significant contributor to Australia’s economic growth.
Company tax collections will reach $1.114 trillion over the next decade, according to new analysis undertaken by Deloitte Access Economics. The analysis, prepared for the Minerals Council of Australia, reveals that the proposed company tax reductions will account for just 4.3 per cent of total company tax collections over the next decade. The proposed company tax cut amounts to just 0.8 per cent of total revenue collections over that period.
New figures show that the demand for high-quality Australian coal continues to grow throughout South East Asia with exports to Thailand four times higher in April 2016 compared to April 2015.
It is profoundly disappointing that the Independent Inquiry into the Environmental Protection Authority (EPA) Report has recommended even more red tape for the Victorian mining industry
Suggestions by the left-wing Australia Institute that a lower company tax rate will simply boost the coffers of the US Internal Revenue Service and fail to deliver a growth and investment dividend are wrong.
The Minerals Council of Australia Victorian Division (MCA) has long called for improved and balanced engagement by the regulator and welcomes Earth Resources Regulation’s (ERR) commitment to improved stakeholder engagement. The draft strategy makes an important step in this regard.
However, the strategy requires further work and clarification to ensure that the proposed stakeholder engagement activities deliver real improvements in public confidence and investor certainty to enable further development of Victoria’s resources sector.
While Protecting Victoria’s Environment - Biodiversity 2036 focuses largely on addressing biodiversity conservation on private land and outside of existing regulatory frameworks, it also considers a number of issues relevant to Victoria’s minerals industry. These include land use planning, native vegetation offsets and water management.
The Minerals Council of Australia welcomes the final report by the Nuclear Fuel Cycle Royal Commission of South Australia.