by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Minerals Council of Australia NT Division : Minerals Council Aust NT Div 2012
Minerals Council of Australia 9 of Australian consumers and industries and produced large income flows. As The Economist magazine has put it: "to refer to a vast, valuable energy resource as the source of a 'disease' sounds rather ungrateful". We should also be mindful that 30 years of reform means that our economy is well positioned to lock in the benefits of the boom for the broader economy. Ironically, many of the same culprits arguing for dramatic intervention in the boom will be strongly supporting the carbon tax -- which in 2012 will be the single biggest deadweight on the economy. The carbon tax -- which looks like being about 300% higher than the European carbon price when it comes into effect in July this year -- will have a greater negative impact on the domestic economy than anything the boom might throw up. Incredibly, those who purport to speak up for the manufacturing sector support the carbon tax even though it will not apply to their international competitors. They support it even though 90 per cent of employees work for firms who'll receive no shielding from the full impact of the flawed carbon scheme. Australia's falling productivity in the face of the once-in-a- generation expansion of Asia also looms as the challenge for both employers and employees in 2012. Over the past 12 month, there has been a massive increase in third party intervention in the workplace -- with unions using the good faith bargaining provisions of the Fair Work Act to move well beyond matters pertaining to the employment relationship. Similarly, the direct employee- employer agreements that were included in the Fair Work Act -- Individual Flexibility Agreements - have become mired in complexity. Direct relationships have underpinned Australia's workplace productivity and yet the Fair Work Act seems designed in part to make employer-employee relations as difficult and complex as possible. This runs counter to the assurances given by the Labor Party before the 2007 election that changes to workplace laws would not reverse the gains of past reforms. And they run contrary to the Objects of the Fair Work Act, which states that the laws will be "flexible for businesses, promote productivity and economic growth for Australia's future economic prosperity". Fixing the problems with the Fair Work Act will be an imperative for the resources sector in 2012 as will be ensuring that Australia does not turn its back on the three decades of reform that have opened up and greatly strengthened our economy. The strength of the resources sector and the flow-on boost to the economy must have come as a shock to the economic and political observers who have worked hard in 2011 to position mining as the economic bogey-man. © Jason Bennee / Shutterstock.com
Minerals Council NT 2013