Yesterday the West Australian published this article. ABS statistics have demonstrated that unadjusted exploration expenditure fell last quarter indicating that mining exploration is moving offshore. Chief Executive of the Association of Mining and Exploration, Simon Bennison, has said that this is part of a larger alarming trend throughout the Australian mining sector because of the MRRT and carbon tax.
These findings support the Institute of Public Affairs’ argument that Australia’s resource competitive advantage is under threat. The development of large ore carriers has greatly reduced the cost of transporting minerals from Africa and South America to Asia. The Australian minerals industry needs to have the ability to effectively compete with these developing nations in order to support our entire economy. Here, here and here is what the IPA has warned about Australia’s competitive advantage.
New research from the Institute of Public Affairs’ Research Fellow, Julie Novak, has tracked Queensland’s taxation history from a low tax state in the 1970’s – 1990’s, to the high taxing and high spending state it is today.
‘Queensland now has the dubious distinction of possessing the worst budget outcome of all Australian states,’ Ms Novak said.
The report highlights that reducing taxes and cutting regulation are important for stimulating economic growth and development. The historical benefits of low taxes, characteristic of a Special Economic Zone, are demonstrated in the report. A low tax zone across Northern Australia is key to increasing domestic and interstate migration to help support the budding industries of the North.
Ms Novak’s full comments are here and the report Queensland the low tax state: the birth and death of an idea, and how to bring it back to life is here.
On 28 June in Longreach and 29 June in Barcaldine, Professor Ian Plimer and I will be presenting at Information Sessions. Professor Plimer is Australia’s most well known geologist from the University of Adelaide and author of ‘Heaven and Earth, Global Warming: The Missing Science’.
The Information Sessions aim to provide facts and information about global warming, and how the carbon tax will affect Australian families. They will also discuss Northern Australian development and the benefits of Special Economic Zones.
The details of the free sessions are:
Longreach, 5.30pm, Tuesday 28 June
Longreach Civic and Cultural Centre
96a Eagle St
Barcaldine, 5.30pm, Wednesday 29 June
Barcaldine Town Hall
71 Ash St
If you’d like to know more about the sessions please feel free to contact the IPA on (03) 9600 4744 or contact the Director of the project, Hugh Tobin at htobin@ipa.org.au. Click here to RSVP.
Also visit our website: http://anewnorth.ipa.org.au. It will have all the information you need about our North Australia Project and the Carbon Tax information sessions.