❓ The Minister for Mines and Petroleum updates the house on the Resourcestocks ''World Risk Survey 2014'', highlighting WA's improved ranking but expressing concern over Australia's decline due to past carbon and mining taxes and potential future reintroduction.
AnsweredQoN 744Legislative Assembly
QuestionView source ↗
RESOURCESTOCKS — ''WORLD RISK SURVEY 2014''
744. Mr J. NORBERGER to the
Minister for Mines and Petroleum:
Can the minister update the house on the results from the Resourcestocks ''World Risk
Survey 2014''?
744. Mr J. NORBERGER to the
Minister for Mines and Petroleum:
Can the minister update the house on the results from the Resourcestocks ''World Risk
Survey 2014''?
AnswerView source ↗
I thank the member for Joondalup for the question.
In the past I have talked about the Fraser Institute survey
that ranked Western Australia very highly—in fact, as the number one
place in the world for investment attractiveness. Another survey has come out
that does not rate Western Australia quite as well, and it is probably
important that I balance the two surveys. I would like to report to the house
on the Resourcestocks world risk
survey, which is conducted each year. The survey assesses 75 countries over a
number of categories, including financial risk, sovereign risk, green tape, red
tape, infrastructure and labour relations. It is quite a broad field, with 75 countries
and those categories, and it breaks down Canada, Australia and other states
into state and territory categories. They are rated between zero and five in
each of the categories, and a weighting factor is put over them to come up with
a figure between zero and 30. The lower a country, state or territory scores,
the better it is. Under the territories and states category, Western Australia
was ranked eighth, with a risk rating of 14.74, which was an improvement of
five places from thirteenth in 2013. That is a good news story on one year's
results, but we are still ranked only eighth. I think Western Australia has
gone up in the rankings because of the Liberal–National government's
policies, such as the exploration incentive scheme, the Mining Rehabilitation
Fund plan and streamlining the approvals process to reduce the waiting list by
75 per cent from what it was when we came to government in 2008.
The survey also ranks Australia. Unfortunately, Australia has
moved from sixth in 2013 to twelfth. Twelfth is not too bad out 75, I suppose,
but we have gone down from sixth. The report explains that this is largely due
to the uncertainty around the carbon and mining taxes across Australia.
Unfortunately, we are still living with the ill-effects of those two disastrous
pieces of Labor policy. It is disturbing to find that we still have not learned
from that. I am advised that Bill Shorten has not ruled out reintroducing a
carbon tax, which would be disastrous for Western Australia. What surprises me
even more is that the federal member for Perth is advocating the reintroduction
of a mining tax. I am sure that some of her Labor colleagues such as shadow
minister Gary Gray would not agree with her on that.
Several members interjected.
The SPEAKER :
Member for Willagee, I call you to order for the second time. If you want to
ask about what is happening with gold, put your name down.
Mr W.R. MARMION :
The Liberal–National government understands the importance of having
certainty in the mining industry, and things such as the mining and carbon
taxes do not provide that. We understand the importance of mining to the sector
and we will continue to strive to improve the current ranking of Western
Australia in any survey that comes out.
In the past I have talked about the Fraser Institute survey
that ranked Western Australia very highly—in fact, as the number one
place in the world for investment attractiveness. Another survey has come out
that does not rate Western Australia quite as well, and it is probably
important that I balance the two surveys. I would like to report to the house
on the Resourcestocks world risk
survey, which is conducted each year. The survey assesses 75 countries over a
number of categories, including financial risk, sovereign risk, green tape, red
tape, infrastructure and labour relations. It is quite a broad field, with 75 countries
and those categories, and it breaks down Canada, Australia and other states
into state and territory categories. They are rated between zero and five in
each of the categories, and a weighting factor is put over them to come up with
a figure between zero and 30. The lower a country, state or territory scores,
the better it is. Under the territories and states category, Western Australia
was ranked eighth, with a risk rating of 14.74, which was an improvement of
five places from thirteenth in 2013. That is a good news story on one year's
results, but we are still ranked only eighth. I think Western Australia has
gone up in the rankings because of the Liberal–National government's
policies, such as the exploration incentive scheme, the Mining Rehabilitation
Fund plan and streamlining the approvals process to reduce the waiting list by
75 per cent from what it was when we came to government in 2008.
The survey also ranks Australia. Unfortunately, Australia has
moved from sixth in 2013 to twelfth. Twelfth is not too bad out 75, I suppose,
but we have gone down from sixth. The report explains that this is largely due
to the uncertainty around the carbon and mining taxes across Australia.
Unfortunately, we are still living with the ill-effects of those two disastrous
pieces of Labor policy. It is disturbing to find that we still have not learned
from that. I am advised that Bill Shorten has not ruled out reintroducing a
carbon tax, which would be disastrous for Western Australia. What surprises me
even more is that the federal member for Perth is advocating the reintroduction
of a mining tax. I am sure that some of her Labor colleagues such as shadow
minister Gary Gray would not agree with her on that.
Several members interjected.
The SPEAKER :
Member for Willagee, I call you to order for the second time. If you want to
ask about what is happening with gold, put your name down.
Mr W.R. MARMION :
The Liberal–National government understands the importance of having
certainty in the mining industry, and things such as the mining and carbon
taxes do not provide that. We understand the importance of mining to the sector
and we will continue to strive to improve the current ranking of Western
Australia in any survey that comes out.
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