Today I am pleased to announce a suite of measures that will honour the memory of Larry Knight and help Beaconsfield get back on its feet.
Larry's Knight's family has agreed to the Australian Government providing $1 million to establish a Larry Knight equity scholarship at the University of Tasmania. This scholarship will honour Larry Knight's memory and support Tasmanian students to undertake courses in mining and engineering.
In recognition of the economic significance of the Beaconsfield mine to the community, the Australian Government will provide $8 million to establish a Beaconsfield Community Fund.
The Fund will provide important support to the mine, miners and their families and the community. It will support a range of community-led economic, social and culturally related projects in Beaconsfield so that the community can grow and prosper.
The Fund will be a partnership involving the Australian Government, the West Tamar Council and, subject to it making a financial contribution, the Tasmanian Government. The Australian Government invites the Tasmanian Government to contribute to the Fund.
The operating guidelines and final details of the Fund will be settled in coming days with a view to it becoming operational very quickly.
Further, the Australian Government has indicated it will provide tax deductibility to the Beaconsfield Miners Support Fund when an application is received. This Fund was established by the Australian Workers' Union.
The Australian Government is also disposed to making a contribution to this Fund once its purpose is clarified.
These measures represent a considered and compassionate response to the extraordinary events at Beaconsfield and seek to assist the community to move forward.