Spreading The Benefits Of The Mining Boom Across Melbourne Ports

Spreading the Benefits of the Mining Boom Across Melbourne Ports

Wednesday, 21 March 2012 00:00

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Michael Danby
Federal Member for Melbourne Ports

Federal Labor Member for Melbourne Ports, Michael Danby said local workers and small businesses will get a fairer share from the mining boom thanks to the Gillard Government’s Minerals Resource Rent Tax (MRRT).

“People know how important the mining industry is, but they also know that we can only dig up and sell the resources once,’’ Mr Danby said.

“That’s why the Gillard Government is delivering the MRRT to deliver higher retirement savings to workers and tax relief to small businesses.”

What the MRRT means for Melbourne Ports

1.    A major new tax break for 40,600 local small businesses as well as a cut to the company tax rate for all businesses, large and small,

2.    A boost to the superannuation from 9% to 12% for Melbourne Ports workers, which is projected to provide a 30-year-old worker on average full-time earnings with well over $100,000 in extra retirement savings; and

3.    A much needed extra superannuation contribution for 24,000 low-income-earners living in Melbourne Ports.

The Mr Abbott and Coalition voted against these benefits for small businesses and workers in Melbourne Ports, and instead tried to give a huge tax cut to super-profitable mining companies and billionaires.

The MRRT is central to the Government's plan to spread the benefits of the mining boom to more Australians and lock in the gains for generations to come.
The Gillard Government believes all Australians should share in the benefits of the mining boom, not just a fortunate few.