Saturday, May 18, 2013

Gina and the ATM – a cautionary tale

by Ken Davis

Poor Gina recently claimed the Australian Government was treating the mining sector like an ATM. She urged the resource sector to “stand up for itself”. Now initially I joined my more left leaning friends in condemning Gina. With others I accused her of using Australia's resources as her personal ATM.

Well Gina – I am sorry. I was wrong. You were r-r-r-r-right – in so many ways. More right than Andrew Bolt.

The Australian Government DOES use the resource sector as an ATM. The thing about ATM's is – you can only use them to withdraw what is yours. The resources of Australia belong to all Australians. The Government's job is to use those resources wisely and ensure that present and future Australians get a fair price for them. The problem for the government is that when it goes to the ATM to get some money for worthy causes, it finds they have been vandalised, or the money stolen. They find a gang of bleating, unwashed protesters screaming, “Mine, mine, mine” blocking their access. They find an army of reporters and advertising gurus armed with sharp pens threatening to undermine their government. Undermining is something they all do well.

Rather than standing on their own feet, the resource industry suckles at the welfare teat with overly generous benefits that are weighing down the country. Things like the accelerated depreciation and excessive research and development concessions. Or the diesel fuel rebate – which costs about $3.5 billion per year.

I am not ungrateful for the resource sector. My house has aluminium windows. My car is made of steel. My computer has all sorts of exotic minerals that make it work, most of the time. But having produced two children and been to a playgroup, I know something about infant behaviour. So when I see a noisy toddler screaming “mine, mine, mine”, I smile. I wait for the parent to step in and lecture about the reality of “things” and relationships. Advice about playing nicely. “You need to learn to share”. “People matter more than things”.

Most toddlers eventually grow out of their tantrums and learn to play nicely, but not without parental guidance and discipline. So Gina – it is time for the resource sector to grow up. It needs to stand on its own feet. Learn to walk. Stop throwing selfish temper tantrums. Play nicely, or when you grow up you won't have any friends. And step back from that ATM so the rest of Australia can get their money. There's plenty there for all of us.

1 comment:

john lord said...

On the money that.