The Chamber of Minerals and Energy of Western Australia (CME) has welcomed today’s announcement from the Premier Colin Barnett and Local Government Minister Tony Simpson to adopt the Gross Rental Valuation (GRV) policy beyond the end of the extended trial period.
“The confirmation of the GRV policy will provide certainty to industry and local governments by clarifying what resource interests can be GRV rated,” said CME Chief Executive Reg Howard-Smith
CME worked extensively with the state government, Western Australian Local Government Association (WALGA) and the Association of Mining and Exploration Companies to develop the initial trial of the GRV policy over three years ago and throughout its recent review.
“Companies have made substantial efforts to increase productivity with a focus on improving business processes and reducing costs within their control. Reducing costs imposed by all levels of government is also essential for enabling companies to remain competitive.
“While local governments have faced similar budgetary pressures, there is a need to ensure stability and consistency in the approach to the application of GRV across the state, said Mr Howard-Smith.
CME will continue working with government departments and WALGA to ensure the broader local government ratings framework is relevant, appropriate and does not impose undue costs on the industry.