After months of post-election obstruction, the new Senate has finally repealed the carbon tax and taken the first steps to restoring the resources sector’s international competiveness.
Chamber of Minerals and Energy of Western Australia (CME) Chief Executive Reg Howard-Smith welcomed today’s vote in the Senate.
“The carbon tax repeal marks a significant milestone in delivering on the Abbott Government election commitment to abolish unnecessary taxes and realise the resource sectors true economic potential,” said Mr Howard-Smith.
“The imposition of the world’s highest fixed price on carbon has placed a significant cost burden on Western Australian resource projects,” said Mr Howard-Smith.
Last year, the ‘carbon tax’ alone placed a burden on $1.2 billion on the mining industry across the country. An impost not faced by our mineral export competitors.
The resource sector’s prime focus is on the high cost of doing business here in Australia. When combined with decreasing ore grades and new minerals and energy rich regions emerging around the world, maintaining WA resource project competiveness is crucial.
Imposed costs on industry, such as the carbon tax has worsened our international competitiveness.
“The next item of business for the Senate should be the swift repeal of the Minerals Resource Rent Tax. It has been both inefficient and ineffective while adding a significant compliance and regulatory burden to industry,” said Mr Howard-Smith.
