CFMEU report says most Australians have not benefited from the mining boom.      
By national resources reporter Sue Lannin
ABC News.

A new report says Australians are not seeing enough economic benefits from the country's once-in-a-century mining boom.      :(

The study commissioned by the Construction, Forestry, Mining and Energy Union found the share of industry income paid in wages has dropped, while mining company profits have surged over the past 20 years.

It also says record mining industry profits have outstripped growth in taxes and royalties.

CFMEU mining division general secretary, Andrew Vickers, says the economic benefits of the resources boom have been highly concentrated.

"Australia as a country and Australians generally haven't benefited from the mining boom, the unprecedented mining boom we've seen over the last ten years," he said.      :(

"And the alarming thing is just how well companies have done out of it. What tax they haven't paid compared to what they sprout about themselves paying," he said.      :(

The CFMEU has called for the mining tax to be changed, but not repealed.

It also wants to a Norwegian-style sovereign wealth fund to be considered to invest the proceeds of the mining boom.
LISTEN: Sue Lannin speaks with Andrew Vickers from the CFMEU

"What the report concludes is that this country ought to have a very long, hard but quick look at what the Norwegians have done and that's a sovereign wealth fund," Mr Vickers said.

The study contrasts with a recent report commissioned by the Minerals Council, which said the benefits of the mining boom were trickling down to the community.

The Minerals Council report said the mining industry spent $35 billion on community infrastructure and local suppliers in 2011-12 and paid about $21 billion in taxes and royalties.

According to the report, most of the $35 billion was spent on local contractors and suppliers to service mines.

The Minerals Council's Ben Mitchell has rejected the report and says mining companies have made enormous contributions to the country.

"98 per cent of everything we've earned out of Australia has been invested back in Australia to keep operations going," he said.

"Now, that revenue has to come from somewhere; it's come from Australian operations, even come from overseas operations coming back into Australia so we have invested massively in Australia over the past ten years."


comments

alexaqua.      :(

4:00 PM on 26/11/2013

If you didn't lose your job during the GFC then you benefited from the mining boom. If every time you went to an ATM you could get money out because your bank hadn't gone broke then you benefited from the mining boom. If you have been on a holiday in the past 6 years spending our high dollar you have benefited from the mining boom. If you have exercised your buying power in any way during the past 6 years because of the high Australia dollar (which includes things like putting fuel in a car or buying a car or buying a new electrical device) then you've benefited from the mining boom.

Categorically denying any benefit from the mining boom is simply rubbish.      

It was a boom for overseas countries, but very little benefit to us.

If we don't own the mines, we can't benefit from them.

Russia and China are benefiting from their mines because of a little thing called 'state owned', makes all the difference.

Our mining boom went into the pie industry...Gina, Twiggy and Clive sure dined out on our resources  :D

adelcrow wrote on Nov 26^th, 2013 at 4:29pm:

Our mining boom went into the pie industry...Gina, Twiggy and Clive sure dined out on our resources  :D

lol!!!

Nathan Tinkler.....but he ended up with pie on his face  :)

You'd need more than four n twenty and a big big ben.

Pigs at the pie trough.

interesting the miniong BOOm resulted in Howard leaving over $20bn surplus..

labrats get in MINING GOES BOOM BOOM BOOM   it trebles...

and what do we get..


DEBT DEBT DEBT DEFICIT DEFICIT DEFICIT..

and bugger all else...



wrote on Nov 26^th, 2013 at 4:13pm:

The Minerals Council report said the mining industry spent $35 billion on community infrastructure and local suppliers in 2011-12 and paid about $21 billion in taxes and royalties.

and what did we get... like I said.. bugger all.

now I wonder who will get the blame for that? ::)

Ex Dame Pansi wrote on Nov 26^th, 2013 at 4:33pm:

adelcrow wrote on Nov 26th, 2013 at 4:29pm: Our mining boom went into the pie industry...Gina, Twiggy and Clive sure dined out on our resources  :D lol!!! Nathan Tinkler.....but he ended up with pie on his face  :) You'd need more than four n twenty and a big big ben. Pigs at the pie trough.

check what julia kevin and wayne received... whilst your checking pansi..and thats just in one year

cods wrote on Nov 26^th, 2013 at 5:18pm:

interesting the miniong BOOm resulted in Howard leaving over $20bn surplus..

You mean the Howard government that spent bugger all on infrastructure meaning he had lots of cash lying around meaning his pet moneyboy Costello could set up some middle class welfare that will benefit the rich at the expense of the poor for decades to come? That Howard Government?

Also, what benefit does the Australian community get from infrastructure built to service the mining industry? Are you counting the rail way lines that BHP and RIO set up that they dont allow anyone else to use? Or the roads that go to a minesite and nothing else? Or the port facilities under contract so noone else can use them?

Yes Howard left a surplus. Those of a more cerebral bent realise that this is not the golden ticket that you think it is, especially given the transference of debt from government hands to private hands. (Hint : this is not a good thing). It merely means he had more money that he could have spent in order to make all Australians lives better, and he didnt. He made the rich peoples lives better.

Two words - Galilee Basin...

Gina Rhinestoneheart found an 'investor' to dig the coal resources up - a billionaire from India - country where the poor die in droves from preventable illness...

http://mines.industry.qld.gov.au/mining/central-qld-info-maps.htm

In all fairness the entire area employs 36000 people....but that includes the Bowen Basin... which produces 80% of the output.

http://iminco.net/mining-jobs-queensland-waratah-coal-galilee-basin-coal-jobs/

"Clive Palmer said establishing the Waratah Coal’s proposed $8 billion ‘China First’ coal mine and associated infrastructure in the Galilee Basin in Queensland, would create 6000 jobs during construction and 1,500 during operation"

I think I'll go back to sleep instead of applying..... 1500 jobs - well - I must say I'm overwhelmed......

C'mon, boys - I don't hear no hatin'!  Let's hear how wonderful digging holes in the ground and wrecking a silly nation is for us all.....

cods wrote on Nov 26^th, 2013 at 5:18pm:

interesting the miniong BOOm resulted in Howard leaving over $20bn surplus..

It should have been $200billion surplus....the coalition are fiscally inept.

All they ever do is how to tax and waste.