OPINION – Whoever wins the election will need a strong mining sector
Our world-class NSW mining industry continues to do the heavy lifting for the NSW economy.
NSW Treasury recently released its mid-year review confirming an extra $2 billion will be delivered to the people of NSW this financial year from record royalty taxes paid by NSW’s mining industry.
Mining royalties are now expected to deliver a record $6 billion in revenue to the NSW Government in this financial year alone. It means the NSW Government has more money available for the things we all rely upon, like schools, hospitals, and roads – thanks to our mining industry.
This $2 billion windfall is a timely reminder of the importance of a strong mining sector to the NSW economy. Whoever wins at the polls next month will need to ensure this continues, and the votes of mining families may decide the outcome.
The NSW Minerals Council’s latest annual Expenditure Survey found last financial year 27 participating NSW mining companies spent a record $16.7 billion directly in NSW.
The record $16.7 billion of direct mining spending included $10.5 billion with almost 7,000 NSW businesses.
The companies also supported a record 31,000 jobs across NSW, mostly in regional communities right across the state, including in several marginal state electorates.
Thousands of mining votes will be up for grabs in the knife-edge electorate of Upper Hunter, as well as in other close seats like Barwon and Dubbo. In a tight election contest, these votes may decide the overall result.
At a time when the mining sector is making a record contribution to the NSW economy, voters in mining communities across NSW should carefully consider which candidates are the most likely to support a strong mining sector into the future.
Stephen Galilee, CEO, NSW Minerals Council