Much has been written since the Gillard Government scraped back in at the election about new paradigms and the Prime Minister’s promise of a new era of openness and transparency in government. But more than a month later, the Government is still refusing to release details about its mining tax.
As the policy transition group meets in Perth today, the fundamental question about how the Government came up with its $10.5 billion mining tax revenue estimate remains unanswered. The Government is unwilling to answer the basic question about where the tax money is supposed to come from. How much of it is expected to come from iron ore, how much from coal? How much from WA and how much from other States and Territories? For some reason, the Government doesn’t want us to know.
Kevin Rudd sought to impose a so-called resources super profits tax in the May Budget. We were told it would raise $12 billion in its first two years. There was no consultation with anyone. Not even with those State and Territory governments, whose royalty revenues were to be replaced by this new national tax.
It was a bad process for a bad tax, which was bad for our economy and bad for jobs. Read more.
As the policy transition group meets in Perth today, the fundamental question about how the Government came up with its $10.5 billion mining tax revenue estimate remains unanswered. The Government is unwilling to answer the basic question about where the tax money is supposed to come from. How much of it is expected to come from iron ore, how much from coal? How much from WA and how much from other States and Territories? For some reason, the Government doesn’t want us to know.
Kevin Rudd sought to impose a so-called resources super profits tax in the May Budget. We were told it would raise $12 billion in its first two years. There was no consultation with anyone. Not even with those State and Territory governments, whose royalty revenues were to be replaced by this new national tax.
It was a bad process for a bad tax, which was bad for our economy and bad for jobs. Read more.