Category: All News

Iron ore futures prices extended their rise to hit the highest level in multiple weeks on Monday, bolstered by an obvious reduction in shipments and hopes that top consumer China will roll out more stimulus to prop up its economy.

“The REAL horror of the mining/coal/oil/gas sector is the government support and rebates the industries get. Barely any of the profits from Australia’s resources even touch the Australian economy. Instead the money is quickly moved offshore to multinational conglomerates.” Let’s have a look at the facts:

He says he only found out about the “nature-positive” plan a few weeks ago, even though he is chairman of four listed companies and has investments in all pockets of the country. Gina Rinehart’s Hancock is the other company brave enough to publicly raise the alarm bells – most businesses seem to be hiding behind the Business Council of Australia, lobbying on their behalf, or worried about political backlash.

The mining sector is up in arms about Environment Minister Tanya Plibersek’s “nature positive plan” with claims it will derail mining projects and halt the government’s own clean energy revolution. Ms Plibersek is seeking to push changes in Australia’s environment protection laws, as part of the government’s nature positive plan.

You’d be used to the phrase ‘red tape’. This is ‘green tape’ to the max! Major new projects and development will be ground to a halt or be forced just to pay up. It’ll mean more lawyers, more court challenges, more power to the opponents – in the end a minefield of new regulations and rules to make every step towards getting things done tougher. Probably why most of this being kept hushed.

Australia is in the middle of a crushing cost-of-living crisis. The most effective way out of it is to increase productivity. Improving productivity puts downward pressure on prices, but it does so without the financial pain associated with the only other major inflation-busting lever — punishing interest rate hikes. Given that, the Government should be throwing the kitchen sink at getting its policy settings right. Instead, Labor seems intent on tying up business in more and more red tape.