Aussie miners press new Prime Minister for reforms
Australia’s mining industry has urged new Prime Minister Malcolm Turnbull to focus on economic and productivity reforms to help the country’s struggling mining sector.
Top industry lobby group, the Minerals Council of Australia (MCA) praised Turnbull's "signal of continuity" on Tony Abbott's emissions policies and the new PM's strong economic reform credentials.
The mining sector, which is going through its toughest period in over a decade, wants Turnbull to use his advocacy skills and economic know-how to help the ailing industry, according to Australian Associated Press.
“The minerals sector looks forward to working with the new prime minister and his team to craft an ambitious economic reform and productivity agenda,” Minerals Council boss Brendan Pearson was quoted as saying.
Turnbull, Pearson said, has strong credentials as an economic reformer and has signalled “continuity on climate and energy policy.”
Environmental and farming lobby group Lock The Gate said Turnbull had an opportunity to end "special treatment for the mining industry" by abandoning pro-mining changes to environment planning laws proposed by Abbott.
Ex-investment banker and barrister Malcolm Turnbull, takes office at harsh times for the global economy in general and Australia in particular.
On top of a slowing economy, Turnbull is inheriting a country with the fastest-growing net debt in the developed world, a shrinking federal budget, and an entire generation of constituents who have only known economic prosperity.
The problems are so deep that Turnbull backed his whirlwind run for office on fixing them:
“The big economic changes that we’re living through here (in Australia) and around the world offer enormous challenges and enormous opportunities and we need a different style of leadership,” he said at a press conference announcing his challenge to Tony Abbott, who was voted out Sept. 14.
Australia’s lack of savings during the boom years has left the country in a precarious position, especially now that demand from China – the nation’s largest export market since 2009 – continues to fall.