Zaneta Mascarenhas (Swan, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Resources and Minister for Northern Australia. How will the Albanese Labor government's policies on critical minerals help build a better future for Australia, and what would make Australian workers and the resource sector worse off?

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

I thank the wonderful member for Swan for her fine question. Australia has all the critical minerals the world needs for electric cars, solar panels and storage batteries, and all the rare earths the world needs for defence technologies like submarines and aircraft. Labor is building a better future for Australia through our production tax credits for critical minerals, which I'm really pleased to say passed through the other place last night. The Albanese Labor government's production tax credits for critical minerals will bring a 10 per cent tax incentive, for more processing facilities here in Australia, and that means more Aussie jobs to build them, more Aussie jobs to operate them and more Aussie jobs to transport the minerals and refined products that are produced.

We have had much support for this policy. The CEO of the Association of Mining and Exploration Companies, Mr Warren Pearce, has said:

This is the first time any Australian Government has put their money where their mouth is for the critical minerals industry.

He said the incentive:

… is a powerful strategic lever that provides the foundation for the Future Made in Australia ambitions of the country. It's also the largest ever commitment from an Australian Government to critical minerals.

This will stimulate billions in new investment in critical minerals processing, which will be far more valuable than the incentives on offer.

And, of course, that is exactly the point—to put our shoulder to the wheel, alongside industry, to build a new critical minerals resources industry in this country. This is a government that gets things done; it gets things done for the Australian people and gets things done for the resources sector.

But I am also asked what would make Australian workers and the resources sector worse off. Well, I don't have to look too far, because there they all sit opposite me. Last night, the coalition betrayed the resources sector. The coalition were dragged kicking and screaming to a vote last night and then voted against production tax credits. The coalition voted against the single biggest investment by any government in the resources sector.

No wonder it was really difficult to get the Liberals to vote in the other place. The poor old WA Liberal senators had to march into the Senate to vote against a policy that Western Australians support, that the Western Australian Liberal leader supports, that the Western Australian Nationals leader and Leader of the Opposition in Western Australia supports, but the east coast opposition leader and east coast shadow Treasurer refuse to get behind. What another abysmal day for the WA Liberals in this place, where they have clearly demonstrated they have absolutely no influence on the federal coalition party room. They have no influence or ability to have the shadow Treasurer or the Leader of the Opposition step back from their really hasty, rash decision that was made on budget night last year. The coalition has voted against— (Time expired)