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A review of regulatory change affecting Victoria’s mining sector - 2011

This report examines changes in Victorian regulation affecting the mining sector. KPMG has primarily focussed on the period since July 2004 when the then Victorian Government launched an inquiry into regulation affecting regional Victoria, which had a substantial focus on improving the regulation of the mining sector.

NT INDIGENOUS EMPLOYMENT & ECONOMIC DEVELOPMENT

The Minerals Council of Australia welcomes the Federal Government?s plan to provide an additional $19.1 million to increase employment and economic development opportunities for Aboriginal people living in remote communities in the Northern Territory.

SUBMISSION TO THE HOUSE OF REPRESENTATIVES ECONOMICS COMMITTEE

The minerals industry is Australia?s most globalised industry and a key pillar of the national economy. It accounts for around 7% of GDP, upwards of 20% of national investment and more than 50% of Australia?s exports of goods and services. The industry is also a large and growing contributor to Federal and State Government revenues in Australia under existing taxation and royalty arrangements.

PASSAGE OF THE CARBON TAX LEGISLATION

The passage of the world?s biggest carbon tax legislation through the Senate today is a missed opportunity to get the design of the scheme right. It is profoundly disappointing that the Federal Government has failed to harness the business sector?s determination to act on climate change with a scheme that simply imposes significant new costs on the economy for no environmental gain.

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