Madeleine King (Brand, Australian Labor Party, Minister for Northern Australia) Share this | Hansard source

I want to thank the hardworking member for Hasluck for her question, because she knows Australia's critical minerals and rare earths are in demand right around the world, and that demand will only grow as we create more green technology, and, of course, they are integral for defence technologies that need our rare earths.

The production tax credits for critical minerals are the biggest investment any government in this country has ever made in the resources sector. The Treasurer this morning introduced the 10 per cent tax credit for processing critical minerals that will create highly paid jobs, good jobs and wealth for future generations of Australians. Industry was active in its development and, indeed, that's why industry has lined up to support it. I remind everyone here of the support we have from the Association of Mining and Exploration Companies. The CEO, Warren Pearce, has said:

After months of detailed consultation with industry, companies and key stakeholders, it is clear that this vital assistance has been well designed and will be effective.

It provides confidence to the growing critical minerals sector and demonstrates to the market and investors, that Australia is open for business and serious about developing a value-added industry right here in Australia.

He goes on to say:

Talking a good game isn't good enough. We need real action, and the Production Tax Incentive is exactly what industry has been seeking.

The CEO of the CME, the Chamber of Minerals and Energy of Western Australia has said:

This measure recognises the Federal Government's commitment to supporting industry to level the playing field in what is an intensely competitive global market.

Passage of the legislation would set an important investment signal for further value adding activities and provide certainty to industry.

I am asked by the member: what is standing in the way of the production tax incentive? Well, you don't have to look far, because it's all over there. It is the members of the opposition, the coalition—the Liberal and National parties—standing in the way of jobs in this country—of jobs in their communities. On budget night, the member for Hume thought he was onto a winner with a new three-word slogan when he set out to oppose the production tax incentives. The coalition have voted against tax cuts, against energy relief, against cheaper medicines and against higher wages, and now it's the resources sector's turn to cop the reckless thoughtlessness of the modern Liberal and National parties. By their words and deeds in opposing this support for the critical minerals industry, the coalition are showing themselves for exactly what they are: anti Western Australian, anti Queensland and anti jobs in communities right through your electorates. They are anti resources, and they will pay a price. I say to the opposition: why don't you support production tax credits for critical minerals? It's because you are anti resources.

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