Media Release: Federal Budget risks Australia’s coal-powered prosperity
While modest initiatives promoting infrastructure and investment are welcomed, the Budget falls dramatically short of removing restrictive regulations and legislation that hold back the nation’s coal mining communities.
Subsidising energy costs by $150 per household isn’t going to address the root cause of Australia’s sky-high power prices, it’s merely a short-term band-aid for a much larger issue.
Coal Australia CEO Stuart Bocking said the federal government’s latest Budget fails to recognise the importance of coal mining which generates billions of dollars annually, does the heavy lifting in Australia’s energy grid, and funds essential services nationwide. Instead, it is choosing to introduce fleeting tax cuts that will disappear before they even take effect.
“This Budget is another high-stakes gamble with Australia's future. At a time of global economic uncertainty, governments need to be sending strong signals in support of coal mining communities, given the prosperity they generate for the regions, the nation, and the budget bottom line," Mr Bocking said.
"We cannot tax or regulate our way to economic resilience. We need to be creating more opportunities for our coal mining communities, with jobs and investment in coal mining certain to chart a path back towards a budget surplus.”
Coal Australia calls on the Albanese government to urgently commit to genuine reform ahead of the upcoming election, prioritising productive investment and economic opportunities. Policymakers must provide stable regulation, eliminate unnecessary barriers, and empower our coal communities.
“The Government has used this Budget to subsidise Australian green metals using taxpayer funding, when instead they should be focused on backing mining projects that are economically viable and do not need government handouts to stand on their own two feet,” Mr Bocking said.
"Every Australian family depends on affordable energy, secure employment and a thriving economy. Our coal mining communities deliver all three. It’s time the government stopped holding Australia back and instead allowed this nation to achieve the prosperity it deserves".
Coal Australia remains committed to working constructively towards policies that promote economic growth, protect jobs and deliver affordable energy to every Australian.