A small warning, when you read the following you will feel a lot of frustration. But there is something you can personally do to help increase wealth for all Australian’s.
Support my call to get the Federal government to take action on these three areas so we can pay down our national debt, but also build wealth to create better education, healthcare and a comfortable retirement for generations of Australians.
Export steel, batteries and high value manufacturing, not just rocks.
We are rich in iron ore and lithium to name just two raw materials. But we export them as raw materials, losing the financial benefit that would come from the finished goods.
By giving local industry more certainty to invest, we can manufacture quality steel, lithium batteries and other valuable products that the world has a high demand for.
Lithium batteries alone are more than $7 billion per annum opportunity involving over 34,000 jobs that we should be seizing on now. Solar power and electric vehicles also offer multi-billion dollar markets we are in a prime position to service.
This creates more high-skilled jobs and supply chains that ensures greater resilience as a nation.
Time to make corporations pay their fair share.
If you’ve paid $1 in tax you’ve paid more tax than a number of multi-billion dollar companies - unbelievable, but true.
Australia is missing out on billions of dollars in corporate tax. Aggressive tax minimization leaves the heavy lifting to ordinary Australians and small businesses. The fact is there are 150 companies in Australia with a combined turnover of $970 Billion over 7 years that have paid zero tax!
Bigger corporates need to pay their fair share of tax, to help build infrastructure, provide a world class law and order system and make our health and education systems world-class today.
Our natural resources are finite resources. We deserve fair compensation.
We don’t receive fair compensation for our finite resources. This means oil and gas companies are extracting our oil and gas which they send overseas to be processed and sold, and in many cases they pay us nothing for the base resource.
Which means billions of dollars in revenue is lost for all Australians – there are estimates that put the loss at $1 trillion. Multi-nationals basically have free range to take our resources, process them overseas and profit off them overseas. Finite resources that took millions of years to create, and the Government is happy to for them to be given away. The Japanese Government collects more tax on importing Australian LNG than the Australian government receives for its extraction and export.
If Australia was a business, we would fire the board for rank incompetence for not leveraging our resources for our benefit.