Two of Australia’s biggest companies have taken a swipe at Federal Labor in an extraordinary attack on the Government.
BHP hit back at accusations from the Albanese Government that it was anti-Labor by illustrating it contributed over $15 billion to WA’s economy last financial year, and the boss of Wesfarmers took aim at the Government’s rebuke of the Reserve Bank.
Only days after Federal Resources Minister Madeleine King accused the company of political bias, BHP’s Australia boss Geraldine Slattery said on a national level it contributes enough to fund half of the Government’s annual spend on hospitals.
An economic contribution report commissioned by BHP found it provided $3.1b in royalties to the WA Government, up from $2.8b in FY2023, and the Big Australian injected $12.2b into the supply chain — compared with $10.8b in the fiscal year prior.
Wesfarmers chief executive Rob Scott also pushed back against the Federal Government, saying the RBA was not “smashing the economy” as described by Federal Treasurer Jim Chalmers but was instead taking a responsible and prudent approach to fighting inflation.
He also suggested governments could be doing more to ease the housing crisis.
“There are many things that can be done on the policy side however, certainly around the supply side issues to help improve housing affordability,” he said. “We need over a million new homes in Australia and there are many supply-side challenges that are preventing people from investing in new homes and undertaking renovations that go to the availability of skilled labour.
“Some of the challenges are with planning approvals. These are all issues that I think could be enhanced, to be improved, with good policy and that ultimately will improve the inflationary pressures.”
BHP said its overall contribution to Australia’s economy was $52.9b and that it provided 6 per cent of the entire company tax take for the Federal Government.
Ms Slattery, BHP’s Australia president, said the company was a significant contributor to national GDP, taxes, royalties and other payments.
“We are proud of our contribution to the economy and the role we play in helping fund the essential services on which Australians rely,” she said.
“The $14.5 billion in taxes, royalties and other payments we made to Australian governments last financial year is around half what the Federal Government spends annually to run public hospitals across Australia.”
Her comments came after a warning from Minerals Council of Australia chief executive Tania Constable who said the mining industry felt under siege and was being “punished” by the Federal Government for its success.
Ms King accused BHP of blindly being anti-Labor saying: “They’re the first to go to the Murdoch press to do a story around what they don’t like about what a Labor government chooses to do, and it wouldn’t matter what it is,” she said.
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Two of Australia’s biggest companies have taken a swipe at Federal Labor in an extraordinary attack on the Government.
BHP hit back at accusations from the Albanese Government that it was anti-Labor by illustrating it contributed over $15 billion to WA’s economy last financial year, and the boss of Wesfarmers took aim at the Government’s rebuke of the Reserve Bank.
Only days after Federal Resources Minister Madeleine King accused the company of political bias, BHP’s Australia boss Geraldine Slattery said on a national level it contributes enough to fund half of the Government’s annual spend on hospitals.
An economic contribution report commissioned by BHP found it provided $3.1b in royalties to the WA Government, up from $2.8b in FY2023, and the Big Australian injected $12.2b into the supply chain — compared with $10.8b in the fiscal year prior.
Wesfarmers chief executive Rob Scott also pushed back against the Federal Government, saying the RBA was not “smashing the economy” as described by Federal Treasurer Jim Chalmers but was instead taking a responsible and prudent approach to fighting inflation.
He also suggested governments could be doing more to ease the housing crisis.
“There are many things that can be done on the policy side however, certainly around the supply side issues to help improve housing affordability,” he said. “We need over a million new homes in Australia and there are many supply-side challenges that are preventing people from investing in new homes and undertaking renovations that go to the availability of skilled labour.
“Some of the challenges are with planning approvals. These are all issues that I think could be enhanced, to be improved, with good policy and that ultimately will improve the inflationary pressures.”
BHP said its overall contribution to Australia’s economy was $52.9b and that it provided 6 per cent of the entire company tax take for the Federal Government.
Ms Slattery, BHP’s Australia president, said the company was a significant contributor to national GDP, taxes, royalties and other payments.
“We are proud of our contribution to the economy and the role we play in helping fund the essential services on which Australians rely,” she said.
“The $14.5 billion in taxes, royalties and other payments we made to Australian governments last financial year is around half what the Federal Government spends annually to run public hospitals across Australia.”
Her comments came after a warning from Minerals Council of Australia chief executive Tania Constable who said the mining industry felt under siege and was being “punished” by the Federal Government for its success.
Ms King accused BHP of blindly being anti-Labor saying: “They’re the first to go to the Murdoch press to do a story around what they don’t like about what a Labor government chooses to do, and it wouldn’t matter what it is,” she said.