Senate debates

Thursday, 20 September 2012

Questions without Notice


2:12 pm

Photo of Chris EvansChris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Hansard source

I welcome Senator Cormann's question. I am sure Senator Wong is a bit jealous that she did not get this question. I absolutely reject the implications in the Senator's question. He seeks again to talk down the Australian economy. He seeks to talk down the success of the mining industry and the success of the oil and gas industry. For purely political motives, he seeks to destroy confidence in the sectors which are actually helping to grow the Australian economy and creating hundreds of thousands of jobs for Australians.

It is the case that a number of companies have taken decisions which have delayed the massive expansion which is occurring more generally in the oil and gas industry and in the mining industry.

However, all the major reports continue to highlight the record amount of investment in Australia. The ABS results released on 3 September showed a major increase of 34 per cent in Australian mineral exploration. The last Bureau of Resources and Energy Economics Mining industry major projects report, in May, showed Australia had 98 resources industry projects at an advanced stage of development valued at A$260 billion. Since the introduction of the MRRT and the PRRT, resources companies have ticked off billions of dollars worth of new spending. So, for the couple of examples the senator uses, he fails to recognise the many other projects that are going ahead and the enormous investment pipeline that is driving enormous economic growth in the Australian economy.


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