Liberals – Greens’ mining tax gouge

Greens’ mining tax gouge
19/08/10

A re-elected Labor Government will lead to more destruction for the mining industry now that the Gillard Government’s chief allies have revealed plans to slug the sector even further.
Greens Leader Senator Bob Brown confirmed at the Press Club yesterday his party wants to gouge another two billion dollars from Australia’s mining sector and change the rules for investors yet again.
If the Greens can’t get that far, Senator Brown admits he would acquiesce to Labor’s destructive tax in its current form, which penalises Australia’s junior and mid-tier miners and compromises their ability to proceed with future investments.
As late as last week, an international think tank warned that the Labor Government’s abrupt tax slug is having ongoing impacts on investor confidence and has made Australia a riskier investment location than several other countries including Botswana and Mexico.
Now the Greens want to conspire with the Labor Party to inflict even further damage on investor confidence.
Given the Labor Party has yet to reveal the cost of its preference deal with the Greens, the certainty for the mining industry is that a re-elected Gillard Government would continue its assault on one of the Australian economy’s most productive sectors.
The only way to get rid of this destructive tax is to change the Government.
Only the Coalition is going to stop the taxes.

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