Caring mining lobbies to protect tax lurks

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Via the AFR:

The mining sector is seeking assurances it will continue to receive billions a year in diesel excise rebates as the government starts exploring options to repay debt and deficit in the wake of the coronavirus crisis.

Last week, Prime Minister Scott Morrison said policies which stimulated business investment, not higher taxes, were the solution to growing the economy and generating the revenue needed.

He left open the option of breaking election promises.

Mining is grotesquely undertaxed already:

Mining should be thinking of ways to contribute to the Australian community not rort it for more tax lurks.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.