Natural Resource Wealth Policy
All our natural resources (being the natural, mineral and hydrocarbon wealth extracted from the earth) rightfully belong collectively to the Sovereign Australian people. In this respect, we claim all natural resources as the “common-wealth” of all Australians.
Given that our 2% debit tax policy will abolish all existing taxes that the mining and resources companies currently pay, it would not be fair and just to permit the mining companies (now mostly foreign owned) to extract the mineral wealth of Australians without adequately compensating the Australian people for it. Thus, the Australian Sovereignty Party will enact legislation to restore all natural resource wealth to the Australian people.
Our policy on Natural Resources is to do the following:
Within an agreed transitional period of time, all mineral and hydrocarbon deposits both on shore and offshore will be nationalised. We will begin by immediately nationalising the mines that are currently paying the lowest margins to the public, and in due course complete the nationalisation process by taking possession of the mines that have been paying a more reasonable share in taxation and resource rents. With respect to the injustice of having had numerous mineral deposits sold or leased to mining companies (or individuals) by the state governments for less than they were worth, reasonable compensation will be awarded to mining companies to purchase back these deposits.
Where mineral deposits worthy of being developed have been discovered on private property by a government survey and exploration department, should it be reasonably judged that the interests of the Australian people are best served by developing the deposit, just and fair compensation will be offered to the private property owners, which may include some royalties. Should the private property owner not wish to accept the generous acquisition offer, the matter can be adjudicated by a community jury of no less than 12 electors.
The government, on behalf of the Australian people, will put out to tender extraction contracts to mining companies. Mining companies may competitively bid against each other for extraction contracts, quoting the fee they will charge to extract a given quantity of the raw resources, or what percentage they wish to keep as their cut, and agreeing to extract a guaranteed minimum volume per year. Where relevant, they may also include in the bid the cost of processing and or refining the raw minerals.
Whichever of the bidding mining companies offer the best extraction tender (bribery or nepotism will not be tolerated by an ASP government), shall be awarded with the extraction contract for that particular mine deposit. In this way we will bring back real competition and efficiency into the mining industry, and the over-all extraction costs will become lower.
During the tender process, all due consideration will be given to companies that have existing mining equipment and infrastructure already located at mine sites. Any costs associated with the removal and relocation, or where relevant, negotiation of sales of existing mining equipment and infrastructure to another mining company shall be considered when assessing extraction tenders for mine sites.
Australian owned and operated mining companies will also be afforded some consideration in their favour over foreign owned mining companies during the tender consideration process.
Whatever is then consequently extracted/ processed/ refined shall be the property of the Australian people (less any percentage the mining company may be permitted to keep as part of their contractual arrangements). The government shall collect and pool all the resources extracted from the many mining operations Australia wide (much like AWB used to do with wheat) and shall sell the resources on the international market for a good price, or may strategically stockpile portions of it.
The Australian government shall reserve the right to sell the resources to the local market for a cheaper rate to help promote Australian manufacturing, the construction industry, and reduce costs associated with transportation.
The mining companies may receive bonuses and commissions above the agreed compensation for their extraction services, provided they meet or exceed their quantity targets as contracted. They may also be penalised where they do not meet their contractually agreed minimum extraction volumes.
Distribution of the wealth generated for the Australian people via this policy will be as follows:
1. The costs associated with nationalising all natural resources will be initially met via a special fund set up and paid for by public revenues generated via both the ASP 2% Debit Tax policy, and the Monetary policy.
2. As the government begins to generate revenue through sales of the pooled mineral resources, the special fund set up to nationalise all natural resources will be paid back in short order.
3. Once the special fund has been paid back, ALL revenue generated (after management, extraction and transportation expenses) will be paid directly to every single Australian born citizen, in the form of an annual dividend stipend.
It is the birth right of every Australian born citizen to receive their fair share of our national mineral wealth. As equal shareholders in the “common-wealth” of Australia, each shall receive an equal yearly payment. All Australian born children under 18 shall have their share paid to their legal guardians.
In recognition of the Original indigenous Australian “common-wealth” shareholders, all who identify as indigenous, and can prove that at least one of their four grandparents are “full blood” indigenous, shall each receive a double portion as their annual share in Australia’s mineral wealth.
How much will each Australian born citizen receive:
Taking into consideration the profits being made by Australian (and foreign owned) mining companies extracting the common-wealth of Australians, and the expectation of strategic pooling and sales of these resources on global markets once they have been nationalised, and given the likelihood of vastly increased local demand as Australia will enter into a construction and manufacturing boom under ASP economic policy, we expect, once the nationalisation costs have been recouped, that each Australian born shareholder could receive an annual payment in the region of $7000 to $11,000 per year.
This dividend payment will be made irrespective of a person’s income, and will be made to senior and disabled pensioners on top of their regular pensions guaranteed under ASP policy. To prevent a once yearly high influx of spending into the retail sector which could lead to temporary inflationary concerns, these annual payments will be made to each Australian born citizen on their birthday.
Children born in Australia, whose parents are both immigrants that have spent less than 10 years here, will each receive a one quarter share, until they have reached the age of 18, when their annual share portion shall return to the full amount. Immigrants who have become citizens, and have lived in Australia since 1996 (ie; have lived in Australia for at least 20 years) shall also be awarded a full share.
As a natural consequence of this policy, we expect it will help to create a stimulus for growth in Australia's natural birth rates, as each Australian born child shall also receive a share on their birthday, paid to their parents until they reach the age of 18. For our national sovereignty, and for economic and demographic concerns, it is important we maintain a natural birth rate in excess of 2.1.
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