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Importance of mining
Q. Compared to five years ago, do you think mining is more important to Australia’s economy, less important to our economy or is it about the same importance?
Total
Vote Labor
Vote Lib/Nat
Vote Greens
Vote Other
More important than 5 years ago 22%
23%
27%
14%
21%
Less important than 5 years ago 24%
26%
21%
30%
28%
About the same importance 42%
40%
48%
49%
34%
Don’t know 12%
11%
5%
7%
17%
42% think mining is of about the same importance to the economy as five years ago – 24% think it is less important and 22% think it is more important.
Those more likely to think it is less important were aged 18-34 (29%) and Greens voters (30%).
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Benefit from mining exports
Q. How much do the following groups benefit from Australian mining exports?
Benefit a lot
Some benefit
A little benefit
No benefit
Don’t know
Mining company executives 67%
14%
5%
1%
12%
Mining company shareholders 40%
37%
10%
1%
12%
Foreign companies 37%
32%
11%
1%
18%
Federal government 27%
39%
18%
2%
14%
State governments 22%
40%
21%
2%
15%
Regional communities 8%
27%
35%
15%
16%
All Australians 4%
25%
41%
16%
15%
Poor people in the countries we export to 3%
11%
24%
43%
20%
Respondents believed those who benefit most from Australian mining exports are mining company executives (67% benefit a lot), mining company shareholders (40%) and foreign companies (37%).
Those that benefit least are poor people in the countries we export to (67% little/no benefit), all Australians (57%) and regional communities (50%).
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Actions taken on privacy, aged care providers, banking, building and construction, financial planning, mining, planning and development, regulation of industries
Regulation of industries
Q. Do you think there needs to be more or less regulation of the following, or is the current regulation about right?
More regulation
Less regulation
Current regulation about right
Don’t know
Aged care providers 47%
13%
18%
22%
Banking 42%
10%
30%
18%
Financial planning 40%
10%
26%
24%
Mining 39%
14%
25%
22%
Building and construction 38%
15%
26%
21%
Planning and development 34%
19%
24%
23%
Private education services 32%
19%
26%
24%
Overall, respondents were more likely to think there should be more rather than less regulation of the industries listed.
In particular, they wanted more regulation of aged care providers (47%), banking (42%) and financial planning (40%).
While respondents aged 55+ were more likely to think there was too much regulation of businesses overall, they were more likely to want more regulation of financial planning (48%), building and construction (49%) and aged care providers (55%).
48% of those on income over $1,600pw wanted more regulation of financial planning.
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affordable housing, agriculture, construction, hospitality, industries, jobs, manufacturing, mining, Retail, telecommunications, tourism
Importance of industries
Q. How important are the following industries for providing jobs for Australians into the future?
Very important
Quite important
Somewhat important
Not very important
Don’t know
Very important Feb 2012
Construction 58%
30%
9%
1%
3%
58%
Agriculture 57%
27%
12%
2%
3%
–
Manufacturing 55%
26%
12%
4%
3%
55%
Tourism 53%
31%
11%
3%
2%
53%
Mining 52%
29%
13%
4%
2%
64%
Retail 46%
35%
14%
2%
2%
47%
Hospitality 45%
37%
14%
2%
2%
46%
Finance 40%
34%
19%
3%
4%
39%
Telecommunications 37%
37%
19%
4%
3%
39%
Respondents regard the construction (58%), agriculture (57%) and manufacturing (55%) industries to be the most important for providing jobs for Australians in the future. These were followed closely by the tourism (53%) and mining (52%) industries.
Since this question was last asked in February 2012, those think mining is very important for future jobs has dropped from 64% to 52%.
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21 January 2013, 210113, agriculture, banking, construction, manufacturing, media, mining, power companies, public interest, Retail, telecommunications, tourism
Trust in industries
Q. How much trust do you have in the following industries to act in the public interest
Total a lot/some trust
A lot of trust
Some trust
Not much trust
No trust at all
Don’t know
Agriculture 72%
20%
52%
18%
4%
5%
Tourism 68%
12%
56%
22%
6%
5%
Manufacturing 56%
8%
48%
30%
8%
7%
Construction and development 48%
5%
43%
33%
12%
6%
Retail 47%
3%
44%
38%
12%
3%
Telecommunications 37%
3%
34%
41%
18%
3%
Banking 33%
5%
28%
36%
29%
3%
Mining 32%
3%
29%
35%
25%
8%
Media 30%
2%
28%
40%
27%
2%
Power companies 18%
1%
17%
37%
41%
4%
The industries most trusted to act in the public interest were agriculture (72% some/a lot of trust), tourism (68%) and manufacturing (56%).
The industries least trusted to act in the public interest were power companies (18%), the media (30%), mining (32%) and banking (33%).
The only industry on which there were major differences was mining where 43% of Liberal/National voters had a lot/some trust compared to only 25% of Labor voters and 17% of Greens voters.
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17 December 2012, 171212, banks, environment, Family First, management of the economy, mining, the medi
The past year – the economy and industries
Q. Thinking about the last 12 months, has it been a good or bad year for each of the following?
Total good
(Dec 10
Total bad
(Dec 10)
Total good
(Dec 11)
Total bad (Dec 11)
Total good
(Dec 12)
Total bad
(Dec 12)
Very good
Good
Neither good nor
badBad
Very bad
Don’t know
The banks 69%
13%
71%
8%
68%
11%
30%
38%
17%
8%
3%
5%
The mining industry 57%
14%
68%
11%
53%
19%
17%
36%
22%
15%
4%
6%
Large companies and corporations 44%
15%
40%
22%
32%
31%
5%
27%
32%
25%
6%
6%
The Australian economy 41%
20%
33%
31%
29%
37%
4%
25%
32%
28%
9%
3%
You and your family na
na
na
na
29%
36%
6%
23%
34%
25%
11%
2%
The media 30%
14%
25%
27%
21%
40%
5%
16%
33%
29%
11%
6%
Farming and agriculture 14%
50%
23%
40%
20%
40%
2%
18%
33%
28%
12%
7%
Trade unions na
na
na
na
18%
30%
4%
14%
37%
22%
8%
15%
The environment 14%
37%
20%
33%
18%
37%
3%
15%
40%
26%
11%
6%
The average Australian na
na
na
na
17%
45%
2%
15%
36%
34%
11%
3%
Small business 14%
45%
10%
61%
10%
62%
1%
9%
24%
39%
23%
5%
Australian politics in general na
na
na
na
9%
61%
2%
7%
26%
29%
32%
4%
A majority of respondents think it has been a good year for the banks (68%) and the mining industry (53%). They are split over whether it has been a good year for large companies and corporations (32% good/31% bad). However, they are much more likely to think the year has been bad for small business (62%), Australian politics in general (61%), the average Australian (45%), farming and agriculture (40%) and the media (40%).
Compared to last year’s results, respondents considered 2012 a worse year than 2011 for the mining industry (“good” down 15% to 53%), large companies and corporations (“good” down 8% to 32%) and the media (“bad” up 13% to 40%).
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mining, Resources Tax, the Coalition
Keeping Our Eye On The Boom
Deep in the weeds of the 24-hour dust-up over whether the mining boom is over—on the very day that BHP reported a $15 billion profit— lurks a more obvious strategy on the part of the mining companies: a determination to build up the specter of a threat to the boom if “costs” are not controlled—“costs” being workers’ wages—and to take absolutely no responsibility for the blow-back from the boom.
Some of this is subtle, some not so subtle. The boom is far from bust, as Paul Cleary pointed out in The Australian:
The projects that mining companies have put on hold are completely overshadowed by the $260 billion in investment already approved by company boards and government authorities that is being poured into mammoth mining and energy projects across the country.
And:
Even if commodity prices fall by 50 per cent, these increased volumes will generate increased flows of income into Australia, keeping the dollar strong while driving far-reaching structural change in our economy. This means the mining boom can be expected to deliver benefits and challenges for all Australians for some time to come. [emphasis added]
The mining barons, themselves, swore up and down yesterday that, no, the boom wasn’t over. But, the Fin gives a little insight into where they are going:At The Australian Financial Review and Macquarie Future Forum in Perth, resources chiefs were confident that Chinese demand for commodities will grow in the longer term, despite a slowdown that has seen iron ore and coking coal prices fall to four-year lows.
However, they warned Australia had become a high-cost place to develop projects, and needed to improve its international competitiveness through reforms to taxation, industrial relations and environmental approvals. [emphasis added]
Aha. “Reforms” in taxation and industrial relations are code words for the Coalition’s agenda: repeal the resources tax and attack the system of bargaining that protects wages and benefits that makes Australia a decent society. In a decent society, leaders would embrace a once-in-a-lifetime mining boom to invest some of the profits in infrastructure, schools and other in life-changing, society-altering projects. Nope, the mining barons make clear, we’re just not in to that.
Note that “high cost” never refers to the compensation of the CEOs of the mining companies, or the staggering wealth of the owners of the companies like Gina Reinhart, the richest woman in the world. “High cost” translates into “take it out of the hide of society and the working person”.
The mining barons view can be summed up thus:
We don’t care how many people are hurt by the rising Australian dollar. That’s the “free market”.
We will fight tooth and nail against resources taxes because, well, the “free market” cannot be messed with.
We truly don’t care what Australia looks like in 20, 30 or 40 years.
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China, Deficits, Gina Reinhart, mining, Slowdown
Slipping Away?
Hate to say, “we told you so” because that won’t pay the bills. But, remember, when we pointed out that China was slowing down and it was downright foolish to let the American Disease infect the thinking in Oz? Well, the mining boom’s last act is coming faster than you think–and that’s a huge warning to take seriously.
AUSTRALIA’S budget surplus has evaporated and its mining investment boom has only two years to run, according to Deloitte Access Economics.
The forecast marks a watershed in assessments of Australia’s prospects, implying in the words of this morning’s Access publication: ”The strong bit of Australia’s two-speed economy won’t stay strong for more than another two years or so”.
The sad thing is that it doesn’t have to be a rocky road. If the mining barons, and their political patron– the man in The Empty Suit, leader of the Coalition– would stop resisting, blocking or whittling back serious taxes on the staggering riches a few people are pocketing from every Australian’s birthright, there would be plenty of money to invest in economic strategically smart efforts that would help the country blossom even when the mining boom evaporates.
And if people would stop wringing their hands over a non-existent deficit problem, we could even be plowing money into projects now.
The head aches.
— Jonathan Tasini
@jonathantasini