Economic reform essential to jobs and investment in Australian mining, says MCA

A welcome wave of reform signalled by the Prime Minister on 24 June has the potential to unlock up to AUS$170 billion of resources investment in Australia.

This investment bonanza could be further expanded by implementing COAG’s new strategic agenda for resources, which is focused on enhancing minerals exploration.

Competitive taxation and efficient regulation are essential to Australia’s minerals producers competing in international markets.

In particular, Australia needs a competitive tax system for businesses to invest in major projects – generating jobs growth across our economy. This can be done by making tax regimes internationally competitive, including on investment.

Australia’s mining industry also is committed to an approvals system that works for the environment, investment and jobs, particularly in regional communities.

Complex and duplicative assessment and approvals have generated unnecessary delays, adding years to projects getting off the ground.

The 24 June reform announcements by the Prime Minister provide a new opportunity to restore community and investor trust by streamlining environmental processes that allows for the sustainable use of Australia’s natural resources.

In the critical areas of skills and workplace relations, mining companies and their workforce have a shared commitment to boosting national prosperity through greater productivity. Specialist skills that allow for the use of high tech, advanced machines and equipment are required to unlock new resources.

A demand driven responsive vocational education and training system and accredited training to enhance professional qualifications will go a long way to cater for a modern mining workforce.

MCA supports a set of practical changes that will support more flexible workplace arrangements that deliver higher productivity.

MCA looks forward to working closely with the Federal Government to advance the case for economic reform, which will deliver more jobs and investment, creating prosperity for all Australians – especially people in regional communities.

Read the article online at: https://www.globalminingreview.com/finance-business/24062019/economic-reform-essential-to-jobs-and-investment-in-australian-mining-says-mca/