The Chamber of Minerals and Energy of Western Australia (CME) urged Western Australian political parties to follow Queensland’s lead in committing to no royalty increases.
“The commitments on royalties made by the Liberal National Party and Labor Party will deliver greater certainty for the Queensland resources sector,” said CME Chief Executive Reg Howard-Smith.
“While the royalty systems of Queensland and Western Australia may vary in rates, thresholds, exemptions and methodology, they both deliver significant revenue to the respective Governments,” said Mr Howard-Smith.
CME is calling on all Western Australian political parties to reject the option of increasing taxes, charges and royalties in order balance budgets and reduce growing state debt.
“All sides of politics need to follow the lead of Queensland leaders who have committed to no increases in royalties. Remaining competitive, both domestically and internationally, is crucial in attracting the next wave of investment to Western Australia,” said Mr Howard-Smith.
“The Government has been reviewing the royalty system through the Mineral Royalty Rate Analysis for three years. It is now time to deliver certainty for miners in Western Australia and declare there will be no royalty increases for any commodities,” said Mr Howard-Smith.
“The responsible and most effective way to increase royalty revenue is to have policies which grow the size of the resources sector. Initiatives which keep the sector strong and prosperous will be welcomed by the 100,000 Western Australians directly employed in the industry,” said Mr Howard-Smith.
