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CANBERRA, Oct 30 (Reuters) - Australia's government will introduce an environmental protection bill into parliament on Thursday that it said would better protect nature while helping business by making approvals for resource and construction projects quicker and simpler. The centre-left Labor government hopes its legislation will deliver a shot in the arm for an economy geared towards resource extraction. Australia is a major producer of gas, metals and coal. Sign up here. "These vital changes have been waiting for five years to be delivered, and in the meantime, we've seen our environment go backwards and businesses have lost time and money," the environment ministry said in a statement. "The bill will deliver modern, balanced national environmental laws for Australia that deliver big gains for the environment and for business." The ministry said it aimed to pass the legislation through both houses of parliament by the end of the year. To pass the senate will require votes from either the centre-right Coalition or the left-wing Greens. The Coalition wants the bill to be more business friendly and the Greens seek stricter environmental protection. Environment Minister Murray Watt said he was negotiating with both and was not yet sure whose amendments he would accept. The bill aimed to provide clear definitions of "unacceptable impacts" and higher penalties for breaches, the environment ministry said. It would also establish an independent National Environmental Protection Agency that would enforce rules, though the environment minister would continue to hold the power to decide on project approvals. Its promise for business is a clearer and simpler pathway for approvals that should reduce the amount of time it takes to get decisions, according to the ministry.
