NSW left out of funding: Minerals Council

The NSW Minerals Council has accused the Federal Government of overlooking the state on funding from the mining tax.

“When accepting the recommendations from the Minerals Resource Rent Tax Policy Transition Group, the Government reiterated that WA and Queensland would both receive $2 billion for road, rail, port and other critical infrastructure, but failed to mention NSW,” NSW Minerals Council Deputy CEO Sue-Ern Tan said.

Tan said New South Wales is a major contributor to the mining industry.

“The proposed tax applies only to coal and iron ore. NSW, along with WA and Queensland, is a resource state that supports a $17 billion minerals industry and produces 42 percent of Australia’s black coal.

“So far, this State’s coal mining regions have been promised just $2 million in infrastructure funding from the proposed tax. That’s $2 million with an ‘M’, not a ‘B’ for billion.

“This tax on NSW coal is going to generate billions of dollars in revenue for Canberra, but the Federal Government has again failed to recognise the magnitude of that contribution.”

Tan said she welcomed the decision by the government to accept the recommendations on the minerals resources rent tax (MRRT) overall, particularly in relation to crediting state royalties.

Yesterday, Andrew ‘Twiggy’ Forrest slammed the changes to the mining tax, saying it was "designed by BHP".

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