February 23, 2017
WA’s mining reputation plummets under McGowan policies
The policies of the McGowan Government have harmed global confidence in our State’s mining sector according to the latest Fraser Institute Annual Survey of Mining Companies.
Shadow Mines and Petroleum Minister Bill Marmion said the 2017 Fraser report, the pre-eminent global survey for mining, painted a damning picture of the McGowan Government’s impact on WA’s global reputation as a mining investment destination.
“WA, as a mining investment destination, has slipped from third-top in the world to fifth, driven by the McGowan Government’s anti-mining decisions,” Mr Marmion said. “We should be aiming to get back to number one, not heading backwards.
“The McGowan Government’s policy decisions are clearly hurting WA’s international reputation as an investment destination.
“The Policy Perception Index, which reflects the performance of the McGowan Government, has plummeted from ninth best in the world to seventeenth, which the report says is specifically due to increasing concern over political stability, socioeconomic agreements, community development conditions and taxes.”
Mr Marmion said the McGowan Government’s attempted introduction of a gold tax, its handling of native title decisions, banning of hydraulic fracturing stimulation, banning of the uranium industry and uncertainty over industrial relations had caused massive uncertainty in the WA mining sector.
“This is a disappointing outcome for all Western Australians,” Mr Marmion said. “Despite growth opportunities in the lithium and other mining sectors, a fall in our global reputation was inevitable as a result of the anti-mining decisions of the McGowan Government.
“Mines and Petroleum Minister Bill Johnston has not delivered a steady hand to this critically important economic sector. WA relies on mining for our jobs and economic prosperity and Minister Johnston has created only uncertainty and sovereign risk.
“Western Australia simply cannot afford the McGowan Government and its reckless anti-mining, anti-development and anti-jobs agenda.”
Background – P32 Fraser Institute Annual Survey of Mining Companies, 2017:
“Western Australia’s ratings showed a decline this year, with its policy ranking decreasing from 9th in 2016 to 17th in 2017, reflecting increasing concern over political stability (+19 points), socioeconomic agreements/community development conditions (+11 points), and the taxation regime (+10 points).”