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Flow Through Shares

AIG has called on the Federal Government to honour an ALP commitment to the introduction of Flow Through Shares for mineral and energy resource exploration in the May 2009 budget.

AIG strongly supports the recent Joint Industry Submission to the Minister for Resources and Energy, The Hon. Martin Ferguson AM MP, "A Proposal to Introduce ‘Flow-Through Shares' (FTS) in Australia[1]" and urges you to support Minister Ferguson in this matter by acting to  urgently introduce an FTS scheme for mineral and energy resource exploration investment, commencing 1st July 2009.  The joint submission, put forward by a broad coalition of resource industry organisations, demonstrates the broad support and confidence in the ability of an FTS to effectively underpin the sustainability of Australia's resources sector amongst both companies and industry professionals.

Failure to ensure that a sustainable level of resource exploration is maintained in Australia and, through inaction, exposing the resources sector to the full impact of short-term financial factors will severely disrupt resource discovery and, consequently, the flow of new mines from the "exploration pipeline".

Introduction of a FTS provides the government a fiscally responsible, demonstrably effective and widely supported means of sustainably promoting investment and creating jobs.  AIG is calling on the the government to commit to the introduction of an FTS scheme in the 2009-2010 budget with a commencement date of July 1, 2009.

A copy of a letter sent to both Wayne Swan MP, Treasurer, and Lindsay Tanner MP, Minister for Finance and Deregulation, is available here.

Individual members can lend their support to this campaign by writing to their local members and Senators.  Click here for details.

Andrew Waltho
President

16 March 2009

[1] A copy of the joint industry submission can be viewed at http://www.amec.org.au/index.php?id=82

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