Glenn Sterle (WA, Australian Labor Party) Share this | Hansard source

As I was saying, the production tax credit scheme is quite simple. I'll explain it for those opposite. If companies don't produce a processed critical mineral, once again, they don't receive a tax credit. Taxpayers don't pay a cent—righto, got that?—unless the industry succeeds. If companies do produce a processed critical mineral, it means they have grown our sovereign capability, they have attracted investment, they have contributed to diversified supply chains, they have contributed to value adding onshore and, oh my goodness, they have created new jobs.

Let's be clear. By opposing this legislation, that mob over there, the coalition, are opposing investment, are opposing jobs and are turning their backs on Western Australia, which we've heard very clearly today. For the life of me, I cannot understand why the member for Durack especially wouldn't support this legislation, let alone Western Australian members and senators. Those of us on the Labor side of politics want more critical minerals processed here in Australia at facilities built by, God help us, Australian workers, and, oh my God, operated by Australian workers. It's pretty hard for that side over there to fathom, but I'm going to try and help you.

Don't just take my word for it. This legislation is supported by the Chamber of Minerals and Energy of Western Australia, by the Association of Mining and Exploration Companies in WA, by Wesfarmers and by the Minerals Council of Australia. It's not often that you will find me on the same side as some of those organisations, swapping Christmas cards! Contrast the approach being taken by Wesfarmers, who, for those Western Australian senators and members, are on the record saying this is a 'smart, targeted use of the tax system to solve big problems, leverage our competitive advantages and enhance Australia's prosperity'.

Imagine my surprise when I heard the shadow Treasurer, Mr Taylor, describe the production tax incentive as giving a dollar to every cafe owner for every coffee they produce. Colleagues, I'll tell you which policy gives a dollar to every cafe owner for every coffee they produce, and some of that could be the free lunch policy being promoted by that mob over that side. I'll tell you a little story. There's no such thing as a free lunch, so—do not be mistaken—that policy is a dud of a policy. How the heck do you expect workers to pay for the boss's long lunches? Rather than supporting new industries that are essential for our future, those opposite want to lurch back to the 1980s, when Australian workers and taxpayers used to foot the bill for their boss's long lunch. That's what they want to do. But I digress.

Producing lithium hydroxide, vanadium pentoxide or nickel sulphate is a bit more complex than producing a latte. Believe it or not, there are members opposite representing electorates in Western Australia that host critical mineral mines with ambitions to move up the value chain, including the member for O'Connor and the member for Durack. By not supporting this important legislation, they are casting doubt on the investment opportunities for critical minerals processing in my home state of Western Australia. Worse than that, they are turning their backs on jobs in their electorates.

Compare that to the WA opposition—don't laugh! There is a WA opposition. You've got to hear this. I normally have a lot of highly critical things to say about the rabble that is the Western Australian opposition. But, on this, they've seen the light when it comes to supporting our emerging critical minerals sector. Unlike the federal coalition, the WA Liberal and National parties—all seven of them—understand the importance of this Albanese government policy. In fact, the leader of the Liberal Party in WA—not the opposition but the Liberal Party—Libby Mettam, at this stage the leader, has gone as far as to say, 'We will support this measure.' Very good. Add to that Mr Shane Love, the WA opposition leader and leader of the WA Nationals. He has said, 'It is essential not just for Western Australia and not just for Australia but for the Western world.' Good on you, Mr Love! It seems that common sense, believe it or not, has spread to some of their federal candidates. Not members, no—there's no common sense there. Ms Mia Davies, the Nationals candidate for Bullwinkel, said, 'Downstream incentives are welcome.' Perhaps the shadow Treasurer should listen to his WA colleagues before shooting his mouth off.

The development of this bill is a great example of industry leaders and national and state governments working together to develop a new vital industry that will drive economic growth. I'm proud to be a member of a government that doesn't duck the hard challenges, that works with industry to build a dynamic future for Australia and Australian workers. Mining and critical minerals are an important part of that dynamic future. Put simply, mining matters, and it particularly matters for regional Australia—and, importantly, regional Western Australia. The development of our critical minerals mining and processing industries is vitally important to national economic resilience and our national security.

But, rather than support these important initiatives, those opposite, the Liberals and the Nationals, just want to focus on division and conflict. Why those opposite can't see that the passage of this bill will deliver for Australia, Australian industry and regional Australia is completely beyond me. Australia will be much stronger, our regional economy will be more prosperous, and there will be good, well-paying jobs in our regional communities and our outer suburbs. Along with all my Labor colleagues on this side of the chamber, I'm proud that the government is investing in regional jobs. I'm proud that the government is backing the expansion of a world-leading Australian industry. I'm proud that the government is striving to create a new and lasting comparative advantage for Australia, for Australian industry and for Australians.

Tax credits, production credits and other forms of support for investment and innovation will ensure that our mining products will be converted from refined metal into manufactured goods right here in Australia. Could we imagine that? Is it that hard? For that lot over there, please help me out. What is negative about that? We talk about the good old days. Let's start bringing them back. Why are they opposed to these high-skilled, well-paying jobs in regional Australia? I admit, the government's vision for our critical minerals sector is ambitious, but what's wrong with that? You don't develop world-leading industries by following. Our ambitions for Australia and Australian industry are matched by the scale of the national opportunity these important policy initiatives will create. Unlike the Leader of the Opposition and the shadow Treasurer, the Albanese government is determined that Australian industry will be in a position where it will be competitive. We want to create the economic environment where the world's best manufacturers will again look to investing in Australia.

Let's recap. Australians have a wealth of critical minerals and rare earths right under their feet. It would be a travesty not to capitalise on these resources to build Australia's future and create thousands of secure jobs, particularly in Western Australia. Critical minerals are needed for solar panels, storage batteries and wind turbines, and the world can't transition to net zero without them. The global path to net zero runs through the Australian resources sector and is paved with Western Australia's critical minerals. These minerals are also vital components in defence applications and directly relevant for the national security of Australia and our allies. But, at the moment, we ship critical minerals overseas to be refined before they can be manufactured into solar panels, storage batteries, wind turbines and defence equipment. This has led to concentrated supply chains, the undercutting of our sovereign capability, and jobs and investment leaving Australia. Listen to that mob over there, it seems they're happy to see that happen.

Australia is missing out on all the jobs that will be created by building processing facilities here in Australia, on our shores, and operating processing facilities in Australia crewed by Australian workers. Building a booming critical minerals industry in Australia will boost Western Australia's economy and create secure jobs in our resources sector. There is an abundance of projects in Western Australia that can get off the ground with the right support. The government's yearly critical minerals prospectus alone lists 27 critical minerals projects in my home state of Western Australia, with 19, as I said earlier, within the electorate of Durack.

An incident having occurred in the chamber—

Sorry about that. That was my sister calling. Whoops! As I said, let's not forget that we will all prosper when we draw on our nation's resources. I'm talking about not just what is under the soil and the seabed but also the skills and the smarts of our Aussie workers—the brilliance of our Aussie researchers and our Aussie innovators. I urge those opposite to grab the other half of the brain that's missing, jump on board and support this magnificent legislation that will create magnificent opportunities for Aussies. Stop talking that rubbish about how great Trump is.