What the federal budget means for mining

The Federal Budget has unveiled some interesting changes for the mining industry, and reveals the investment from mining companies in the next financial year will be eight times higher than the previous one.

The Federal Budget has unveiled some interesting changes for the mining industry, and reveals the investment from mining companies in the next financial year will be eight times higher than the previous one.

Treasurer Wayne Swan has announced a budget focused on “jobs, jobs, jobs,” not least on the mining and resources industries
The budget acknowledged the “Asian century” and its contributions to the nations wealth.

On Monday, federal shadow resource spokesman, Ian McFarlane slammed the mining tax proposed by the Gillard government, saying it underpins the budget and is causing other policies to fall apart.

Queensland Employment Skills and Mining Minister Stirling Hinchcliffe has welcomed the decision by the government to focus on the need for workers in the growing resource industry in the state.

The National Workforce Development fund will receive a $558 million injection for its start-up and $143 will be provided to support language and literacy training.

Employers in the resource in industry are urging the Federal Government to ignore demands from political groups and unions opposed to increasing the level of skilled migration.

The Government’s announcement on Enterprise Migration Agreements (EMA’s) was welcomed by resource industry employer AMMA.

While Hinchcliffe is satisfied with the budget’s regard for the mining industry in the sunshine state, it has not been so happily received from those in the New South Wales Hunter Valley, where locals say they have been left out of funding out of bias for key independents Rob Oakshott and Tony Windsor.

 

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