Otways weir labelled ‘hypocritical’ BY KIM WATERS PLANS to divert water from an Otways creek to Geelong are hypocritical, according to an election candidate criticised for promoting a similar project. Liberal hopeful Andrew Katos accused State Government and Barwon Water of “changing their policies” on Dewings Creek. “When others have proposed structures like weirs, Barwon Water and State Government have always said it’s bad for the environment and doesn’t add up economically,” the Geelong councillor said. “They’ve been vehement in their criticism of anyone suggesting this kind of thing in the past and canned a similar proposal in 2003 for Gellibrand. A weir is a weir and the principle is the same no matter what river or creek you put it in, so why have they changed their policy?” The Independent revealed last
STOCKTAKE
SALE
50
BY ALEX DE VOS A PROPOSED tax on mining “super profits” has alarmed two big Geelong employers. Spokesmen warned the tax could drive up costs for Blue Circle Southern Cement and Alcoa. Cement, Concrete and Aggregate Australia chief executive officer Ken Slattery said the new tax reform was a “major concern” for Blue Circle’s manufacturing operations at Waurn Ponds. Mr Slattery warned the tax could drive up construction costs to price first-home buyers out of the market. “We’re quite worried about it,” he said. “Anyone that takes materials
OFF
BIG BRAND MATTRESSES, TTOP QUALITY BEDROOM SUITES, KIDS BEDS AND MANCHESTER
A BET TER R
ited ABN 45
st Monthly Intere
482728-JF23-10
2 Year Term 9 Month Term 6 Month Term
004 736 458
terest
- Monthly In
6.75
% pa st Quarterly Intere
6.50%pa 6.50%pa
3 Month Term
na na
6.55%pa na
6.25%pa 5.50%pa
) stment $500.00 (Minimum inve R TARGET SAVE
TODAY! START SAVING ation For further inform e on nn ia D contact Sue or FTW0207_30
Geelong
The Independent, Friday June 11, 2010.
curities Lim ith Banksia Se
D TERM 1 YEAR FIXE
HURRY - LIMITED TIME
2
An Alcoa spokesperson said the aluminium giant was also concerned about the tax. “There could be some big knock-on effects to the community and small businesses but beyond that it remains to be seen how it will effect us,’ the spokesperson said. Federal Member for Corio Richard Marles said the tax would benefit some mining companies. “Very important provisions are being made for local industries,” Mr Marles said. “The idea of having a resource tax model as opposed to royalties ought to be of benefit to most people who are mining a closed-value product.”
03 5221 7ca5ll9in9to or
Street, Geelo 199 Moorabool
ng
6.25%pa
Paid on Mat
urity
not a bank. ntures and is principal ents in debe eir stm th ve of in s all er or (BSL) off some ised credit rities Limited and investors risk losing g by a recogn Banksia Secu a credit ratin made about the risk of involve risk ts ve en ha t stm no ve in All es do nt s been BSL debentur sessment ha read the curre investment. dependent as e products you should prospectus is means no in es A is th s. Th in . ed cy ng ne en sti ag ve r your rs. Before in 00 333 114 or suitability fo loss to investo be satisfied about their n centre on 18 t d r administratio 14 May 2010 and subjec an ou us g ct llin pe ca os pr at by any branch, are current as available from siagroup.com.au. Rates nk from www.ba ithout notice. to change w
.au agroup.com www.banksi
422263-SH19-10
w
IN HALF!
Cnr. Gheringhap & McKillop St Ph: 5221 4399
out of the earth would be effected one way or another. It would result in a higher burden relevant to miners and that would end up being passed on to the customers. Mr Slattery, whose organisation represents the interests of cement, pre-mixed concrete and extractive industries, said Federal Government’s 40 per cent resource rent tax could have “significant flow on effects”. Mr Slattery said Blue Circle sourced its material from quarries on private land. Blue Circle would miss out on any benefits under the proposed tax because it sourced its materials on private land while the proposal’s royalty rebates only covered mining on sites under the control of the Commonwealth.
P U H C T I ST ATE
PRICES SLASHED
Conditions apply. Savings are off normal ticketed prices. Offer valid from 31.05.10 to 27.06.10. See in store for details.
week that Barwon Water planned to reinstate a weir on the creek to divert 700 million litres a year into the region’s drinking supply. Cr Katos said he was “surprised” to read about the plan, which he believed had been “kept quiet”. His election opponent, South Barwon Labor MP and parlia-
Local fears on mining tax hit
%
UP TO
Water plan: Michael Crutchfield.
mentary secretary for water and environment Michael Crutchfield, said the weir would secure future water for Geelong and the Surf Coast. “The $576,000 weir project is only two metres high and five metres wide,” Mr Crutchfield said. “It is not smashing a great big hole in the pristine Otways and wasting tens of millions of dollars in the hope that in 10 years time it might rain, which is what the Liberal party wants to do.” Mr Crutchfield said the weir was part of Labor’s plans to secure the region’s water supply, along with tapping borewater at Anglesea and connecting Geelong to Melbourne’s supply. Cr Katos controversially proposed after earning Liberal preselection that State Government should review all options for water supply, including potential for a dam in the Otways.