As Mitch Hooke declares his intention to depart the Minerals Council, the senate is set to investigate his handwork. From the AFR:
A Senate inquiry into the mining tax will go ahead after the Greens agreed to amend the terms of reference to remove any mention of strengthening the tax.
Greens leader Christine Milne, who proposed the inquiry, agreed to the compromise with the coalition on Tuesday afternoon after a dispute over the inquiry’s terms of reference.
…She will retain one term of reference which enables the inquiry to look into “any other related matter’’. This would allow the inquiry to indirectly look at strengthening the tax if the Greens so wished.
So, we will get a steady stream of well-deserved and highly damaging headlines for Labor and the hope of fixing the tax right before it’s dumped. The splendor of Australian politics!
So mitch hook departs. Does that mean we might have seen the end of our astroturfer too?
Someone want to explain to me why we punish Australia’s most successful economic sector?
Raising $0 was the best thing this tax did.
Search MB.
What! We’re punishing the property speculation market….I missed that in the press…..
Lol – property speculation has been pretty successful for many but we all know mining saved the nation!
There is no good reason.
Capitalist,
In a word – ENVY.
Sorry to interrupt this charming astroturfer love in but the reason for the tax was rent, economic rent to be precise.
The miners have been fattening on it at Australia;s expense and should have it removed to the commons.
See ya and wouldn’t want to be ya.
Ah, but let’s not forget the original concept here RSPT. Resource Super Profits Tax.
Yeah, now repackaged to something far more palatable to all parties, the miners, the pollies and the economic wonks.
A reminder of the super profits tax:
http://www.smh.com.au/business/the-resource-super-profits-tax–what-is-it-20100511-usnu.html
“The miners have been fattening on it at Australia;s expense and should have it removed to the commons.”
The RBA destroyed that argument the other day.
And no, the tax had nothing to do with ‘rent’ it was about taxing ‘super’ profits.
But when the sector is profitable, the government will take in more with the industry-level 30% company tax. Why does it need to be hit with another tax?
Coalition are envious of the mining industry? You do know that they are sponsoring this senate inquiry?
Can you explain to us how you intend to run a modern country without taxation ?
The same way it worked before the MRRT?
The same way it worked before the MRRT?
So why is it ok to “punish” those sectors ?
Who said anything about no taxation? Pretty sure if the BIG Miners make a tax profit they would have to pay 30% tax! So still paying tax & when profit goes up tax take is up also. So it’s tax on!
Some just don’t ‘get’ it.
One for deadset sandgropers.
Secession as political reform: The case of Western Australia
http://www.cis.org.au/images/stories/policy-magazine/2012-summer/28-4-12-sukrit-sabhlok.pdf
Secession might be the answer some of the MB commentators want. If we think in terms of what New Australia (Australia without WA)what would it look like.
Half of New Australian exports would go, the dollar would crash forcing up the price of imported goods (see; everything) and a dramatic fall in living standards. Real house prices would fall, nominal prices depending on inflation.
But then some MB commentators might like that, they can have jobs in the newly competitive manufacturing sector.
Yep, sandgropers deserve respect.
Sounds like the heavenly vision some here appear to have!
An amusing pic, nicely edited! Compliments to the chef.