MEDIA RELEASE: No amount of taxes will fix the budget — Stonehouse
Our high standard of living is underpinned by the strength and resilience of our mining industry, which employs more than 104,000 people and which already contributes more than $94.8 billion to the state economy through job creation, tax revenue and exports.
Hiking the gold royalty just when the sector is experiencing an increase in production and sales will only lead to a reduction in wages, in employment, innovation, investment and exploration.
The government has delivered a double whammy by not only increasing the gold royalty, but also by ramping up payroll tax. Both measures look set to cost this state much-needed jobs across our already stretched resource industry.
If the McGowan government is serious about balancing the budget, it needs to drastically cut spending rather than committing millions in grants and assistance focused on the mantra of “more jobs”. Industry doesn’t need platitudes, it needs fiscal certainty. That’s what will deliver jobs.
If the government wants to stimulate business activity in the state, it doesn’t need to spend a single red cent. It simply needs to cut red tape, and stream line regulatory processes. In other words, it needs to get out of the way.
I’m pleased to learn that the Nationals have announced they will oppose the gold royalty hike. In the hope of uniting the opposition and the crossbench in the upper house, I intend to move a disallowance motion to block these changes.