GST dilemma root of royalty pain
Monday 9 October 2017
“Today’s release of the Productivity Commission’s draft report on horizontal fiscal equalisation highlights that if the GST dilemma had been resolved we would not be having the gold royalty debate,” said Graham Short, Acting Chief Executive Officer, Association of Mining and Exploration Companies (AMEC).
“The Productivity Commission’s acknowledgment of the Western Australian GST dilemma shows that there is a path to a fairer GST distribution.”
“Common sense must prevail. It makes no sense for the WA Government to make decisions that damage the engine room of our economy because of the broken GST system.”
“60% of the additional revenue raised by the proposed gold royalty hike will go to other Australian States and Territories through the GST re-distribution process.”
“Industry needs the Federal Government to resolve the GST distribution as a matter of urgency.”
“The proposed gold royalty increase is a decision that heightens sovereign risk, and damages WA`s reputation as a safe place in which to invest.”
“The proposed gold royalty hike is an unnecessary broken promise that will be paid for by Western Australians in job losses and lost opportunities.”
“The Opposition and Cross Bench need to be economically responsible and oppose the royalty increase.”
“We need them to stand up for Western Australia as one of the world’s leading mining jurisdictions as they have in the past, and stop any job losses,” said Mr Short.