Thursday, November 28, 2013

CFMEU report says most Australians have not benefited from the mining boom - ABC News (Australian Broadcasting Corporation)

CFMEU report says most Australians have not benefited from the mining boom - ABC News (Australian Broadcasting Corporation)

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

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