Australians 'no richer' from mining boom

2 Jan 2013, 6:57 pm   -   Source: SBS Staff

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New research commissioned by SBS has shown that most Australians feel no richer from the nation’s mining boom, amid concerns the industry is propping up the broader economy.

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Most Australians feel no richer from the nation’s mining boom, and there is widespread concern the industry is propping up the broader economy, new research by SBS reveals.

The community’s often-conflicting attitudes towards mining were revealed in the national survey of about 1500 people conducted over November and December last year.

DIRTY BUSINESS - 'HOW MINING MADE AUSTRALIA' will air Sunday January 6th, 13th and 20th at 8.30pm on SBS ONE.

Strong opposition to foreign ownership of resource companies and the use of foreign workers were apparent in the report, ‘Australian Perceptions of the Mining Industry’.

Less certain were attitudes towards mining’s economic benefits.

Almost half of those surveyed believed the mining industry “saved Australia” during the Global Financial Crisis, while another 33 per cent said the boom had helped push up property prices.

However, 53 per cent of people felt “the mining boom had made no difference to my personal finances”, with 13 per cent of respondents reporting some financial benefit.

More broadly, only 10 per cent of Australians agreed that they or their family had benefited from the boom, with 57 per cent saying they had missed out.

The boom was also linked to a rising cost of living by 42 per cent of those surveyed.

Perception of the boom’s benefits was split along generational lines, with older people less likely to feel financially rewarded and more conscious of its effect on the cost of living.

Also revealed were fears that Australia was too dependent on mining for its economic strength, with 57 per cent of respondents “worried that … governments are too reliant” on revenue from the boom.

This was matched by the 54 per cent of Australians who felt mining was “propping up … the economy”.

Sentiment towards the Federal Government’s Mineral Resource Rent Tax (MRRT) was almost equally divided with 30 per cent approving of it, 29 per cent against.

Those in the anti-MRRT camp exactly matched the proportion of people who said government regulation of mining would influence their vote in this year’s Federal Election.

However, a sizeable proportion of voters didn’t have a strong stance on the tax, with 41 per cent of respondents either “neutral” or unsure where they stood on the issue.

There was concern over the industry’s influence on government - 43 per cent of people agree that mining had “too much influence” in Australian politics, just 12 per cent disagree.

Views on foreign ownership of mining were strong, with 68 per cent of people backing restrictions, but when the prospect of local job losses was raised, this dropped to 40 per cent.

Forty-four per cent opposed the hire of foreign workers by mining companies, with 21 per cent in favour.

Opinion was balanced on whether Australia was responsible for other countries’ use of exported minerals (35 per cent disagree, 32 per cent agree), and the sale of uranium overseas (30 per cent agree, 29 per cent disagree).

Fifteen per cent of people were “very concerned” about the sale of minerals to China.
About half of Australians believed the mining boom would be over within five years.

Mining Boom , Dirty Business: How Mining Made Australia

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The Rich win regardless

Doody - from Epping, 5 months ago

Why am i not surprised ,greed rules here ,especially overseas greed

why not

Jaz - from Perth , 5 months ago

why can't we implement a program like they do in Alaska , where each citizen is given up too 6000 dollars per year in revenue from oil profits? our natural recourses exceed there's yet we still have no return , this would boost our economy massively and the average person still receivers a return and the mining companies still turn huge profits !?!

@Cameron - re: 'discussions aint what they used to be... '

Chris - from Melbourne, 5 months ago

Yes, and I can comment but not vote. I guess my IP address has been red flagged...What happened to you SBS?

On the other hand...

karen - from Adelaide, 5 months ago

I've just completed a Mining Engineering Degree and start work later this month. I'd like to point out that in all the mining publications I've read regarding the MRRT, it was in fact the big miners who initially approached the government with the aim of setting up a 'national fund,' similar to those in other countries, for support during 'bust' periods associated with the industry. However, greed resulted in the 'tax' instead and poor management will prevent the true intention being realised.

Mr

AB - from Riverina, 5 months ago

The mining industry in Australia is largely controlled by foreign interests with a disproportionate amount of profits being filtered off shore to line the pockets of the rich, The likes of Gina Rinehart the richest woman in the world, not wanting to contribute to the welfare and growth of Australia is criminal. She might feel fine and fuzzy for the contributions sorry taxes she is made to pay; but in the end it is only a minuscule amount compared to the vast wealth she possesses. SHAME SHAME

Fact checking

Gary Doggett - from Brisbane, 6 months ago

SMH' Ross Gittins among first to observe the 'mining boom' had delivered 7 personal income tax cuts under Howard and Rudd Governments. Today, Australia's unemployment rate is among lowest in the world. Suggest that if correspondents are interested in the trickle down resources development across they investigate flow through one state at the Queenslandeconomy website. On the value of the $A, resource stocks fell by one third in 2012, but the currency stayed firm judged against others.

Shows how the Media can influence voters

Reggie - from Port Macquarie, 6 months ago

The way the miners were able to influence, the voters of this country through a high saturation Media campaign which put forward mostly half truths was amazing. One add had the caption: We saw you through the GFC, people bought into this because it was on TV and radio therefore must be true. The miners downsized their operations during the GFC, the only positive impact of their down sizing was that the price of Diesel dropped back below the price of unleaded, because the demand had dropped off

Fooled by the Super Rich again!

woody - from Tenterfield, 6 months ago

Remember not so long ago the Federal Government under Rudd tried to introduce a tax on mining profits. Remember the outrage from the Super Rich Magnates, the 500 million dollar media campaign. What a pity most Australins were fools and allowed themselves to be duped by vested interests under the guise of national interest. Oh when will we learn! there are only a pitiful handful of Australians who are better off. The Super Rich who buy governments and public opinion.

discussions aint what they used to be...

Cameron - from Chakola, 6 months ago

I was going to comment until I saw "All submitted comments become the property of SBS They are moderated, so we reserve the right to edit comments ..." Why bother. Have you noticed how unpopular discussions have become because freedom of speech means only if it sounds right to a moderator.... you'll have to troll for new ideas on how to troll for others peoples ideas.....

Where's the money?

Ann Harding - from Newport, Vic, 6 months ago

I see "wealth" across Australia, however my sentiment mirrors Grant's comment. I feel the country is being raided unchecked. The opportunity isn't "once in a lifetime", rather once for all time. I need more facts which may be in the documentary: 1) for each mined resource, what % has already been mined and sold, 2) what % of each was bought per country ownership and 3) for what use? I.e., did foreign company add value and sell as products back to Aust and if so, why was the product not domestic?

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