CCIQ President response to interpretation of MRRT campaign

Wednesday 18 August, 2010 | Tags: Economic Policy

Chamber of Commerce and Industry Queensland (CCIQ) President David Goodwin wishes to respond to any unintended interpretation of the advertising CCIQ is currently conducting within Queensland on the Minerals Resource Rent Tax (MRRT).

"At the outset I wish to articulate that this position has been taken following repeated concerns being expressed by our members about the former Resource Super Profits Tax (RSPT) which are unfortunately still present under the MRRT," CCIQ President David Goodwin said.

"Despite the progress in amending the RSPT to the MRRT, the introduction of a new tax has eroded business confidence as many businesses anticipate reduced economic activity, increased costs of doing business and reduced employment levels as a result of these reforms, as noted in our latest Pulse Survey for the June Quarter 2010.

"The decision to advertise is based on our members' response to a 'policy' that has and will have serious implications for the Queensland economy and not the 'Politics'.  The new advertising being rolled out should be seen as such and any other interpretation is quite simply incorrect.

"Indeed CCIQ over recent years has gone to significant lengths to be a balanced, representative and non partisan organisation.  We have always availed ourselves in facilitating through functions the flow of information from Federal Government to our members.  Labor were the last party that we had address a CCIQ function and we hope to continue this good working relationship.

"It is CCIQ's role to encourage constructive debate and appropriately criticise policy that can potentially harm Queensland businesses.  We have taken this approach both on the MRRT and the Coalition's Paid Parental Leave.

"CCIQ is on record well prior to the Federal Election urging the Labor Government to abandon its plan to introduce a MRRT due to its impact on business certainty within Queensland.  CCIQ does not wish to focus on the details or appropriateness of the tax other than to highlight that as uncertainty lingers over this tax, the cost in terms of new business investment and jobs will become increasingly apparent.

"CCIQ seeks to have an excellent working relationship with the next Federal Government, irrespective of it being ALP or Coalition, to develop policies that align with business interests within our state.

"CCIQ is committed to economic reforms that ensure the stability, efficiency and effectiveness of fiscal policy and taxation arrangements that promote investment growth and global competitiveness of the Queensland economy."