Budgets
The 2021-2022 Federal Budget will be handed down on May 11. CME has made a pre-budget submission and will release further commentary on budget night. Previously announced initiatives relevant to the resource sector include:
- $275.5 million towards developing four more hydrogen production hubs in regional areas.
- $263.7 million towards carbon capture and storage (CCS) projects and hubs in an attempt to reduce fossil fuel emissions.
- $120 million in Deregulation measures including: reducing the regulatory burden for businesses interacting with government; making it easier for businesses to get people into jobs; and building foundations for future reforms.
Through the Economics and Tax Committee CME has also commenced preparation of a 2021-2022 State Pre-Budget Submission. It is likely the State Budget will be handed down in early September, although the date has not yet been announced. Key areas to be covered in our submission include:
- Fiscal sustainability in the face of continued global uncertainty and volatility
- Cost competitiveness of doing business in WA
- Unlocking strategic industries to diversify the economy in the longer term
- Deregulation and better regulatory stewardship
- Facilitating workforce mobility and capability.
Should you wish to review and contribute to the draft submission please contact the Industry Competitiveness Team.
Contact: Adrienne LaBombard
Email: a.labombard@cmewa.com
