As Australia’s federal election campaign commences, the Chamber of Minerals and Energy of Western Australia (CMEWA) has outlined its priorities for the crucial resources sector. While commending both major parties for pledges against new mining taxes or royalties, CMEWA emphasizes reversing declining productivity and attracting investment. Their Federal Pre-Budget Submission contains over 90 recommendations, including streamlining approvals, expanding WA’s power network, introducing a green iron production tax credit, and corporate tax rate cuts.
WA’s resources sector is vital, accounting for roughly half the state’s economic activity and nearly 90% of exports. A recent report showed a record $132 billion in direct spending by WA’s resources sector, contributing 9% of Australia’s GDP. CMEWA stresses the need for faster approvals to unlock investment in transformational projects and accelerate the energy transition. They also voiced concerns over soaring electricity prices and the impact of recent industrial relations reforms, which have led to increased union activity and hampered investment. CMEWA advocates for sensible environmental reforms with genuine consultation between industry and community stakeholders. With mining jobs in WA reaching record levels, the sector’s future hinges on addressing these key challenges.
