Western Australia’s Lithium industry has gone into “over drive” in the space of a few years with Lithium projects worth billions of dollars in the pipeline.
The overwhelming majority of royalties generated by WA’s booming lithium projects seem destined to prop up the Eastern States, with the Commonwealth Grants Commission confirming it has no plans to exclude the sector from the GST carve-up.
In his recent State Budget, WA Treasurer Ben Wyatt projected lithium royalties would grow from $89 million this financial year, before another $333 million flows to the State between next year and 2022.
Mr Wyatt wrote to Federal Treasurer Scott Morrison shortly after WA’s Budget was handed down on May 9, asking him to direct the CGC to exclude lithium royalties from its calculations as a reward for the State’s quick reaction to help support booming demand for the commodity.
See the FULL ARTICLE by Nick Evans of the West Australian Newspaper