Mining magnate Gina Rinehart has urged the Australian government to adopt the stimulatory policies being promised by US president-elect Donald Trump or risk following Greece along an “irresponsible’’ path of increasing government expenditure and debt.
The nation’s richest woman, who recently visited Washington where she met members of Mr Trump’s campaign team —including former New York mayor Rudy Giuliani and campaign manager Kellyanne Conway —said the Republican Party team won the election “because they listened to the people of America’’.
Mrs Rinehart also took a swipe at the US media, noting the Trump team prevailed in the polls despite “constant and unrelenting negative coverage of the president-elect, including at times his loyal supporters, such as his wife, in attempts to upset the focus of the president-elect’’.
“People close to the president-elect and his campaign advised that their countrymen told them they wanted, firstly, less government tape, secondly less taxation, and for the USA to grow and be economically strong again, and provide more sustainable jobs. And how exciting, this is exactly what the president-elect, and his team, are advising they want to deliver for America and its struggling economy,’’ Mrs Rinehart said in a speech delivered for yesterday’s National Mining and Related Industries Day.
“In addition to wanting to deliver secure borders, a safer country and less government debt. Trump’s team members advised that the president-elect wants to cut federal government tape by 50 per cent in his first months of office, and that he wants to cut company tax to 15 per cent. What a kickstart to the American economy that will provide!’’
The Hancock Prospecting and Roy Hill Holdings chairwoman and preferred bidder for the iconic Kidman portfolio of cattle properties urged Australians to push the federal government to adopt similar policies here.
“If only we were hearing similar policies from our own government,’’ she said. “We need to let our government know this would be good for Australians too.
“Unfortunately for Australia, government regulation and red tape is one of our biggest industries and it is growing.’’
Mrs Rinehart has long called on federal and state authorities to significantly cut government-imposed regulations, noting that her $10 billion iron ore project at Roy Hill in the Pilbara had been slowed down by about 4000 government approvals needed.
In her speech, delivered to an Institute of Public Affairs dinner in Melbourne last night by Hancock’s general manager of government and media relations Sophie Mirabella, Mrs Rinehart reiterated her opposition to West Australia proposals to increase the tax burden on the iron ore industry.
Nationals WA leader Brendon Grylls wants to lift the production levy WA charges BHP and Rio from 25c a tonne to $5 a tonne.
“The mining industry cannot … be the government’s perpetual ATM. Our industry has to compete internationally or lose its markets,’’ she said.
“We are continually targeted and told to give more and more money to solve political problems we didn’t cause or create.’’
Late last month Mrs Rinehart all but snared control of the vast Kidman and Co land and cattle empire after the rival all-Australian BBHO consortium withdrew its $386 million offer.
Hancock Prospecting and its joint venture partner Shanghai CRED have agreed to pay $386.5m for the business, but their offer is subject to approval from Australia’s Foreign Investment Review Board and Beijing. Mrs Rinehart is overseas.
