Tragic Ken Henry demands mining tax

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Who knows what drives this bloke. At the AFR:

Former federal Treasury boss and bank chairman Ken Henry says Australia’s “stupidity” and economically “illiterate” failure to tax the mining boom properly has cost the country dearly and prevented a badly needed cut to the 30 per cent company rate to boost investment and worker wages.

…the case for cutting the 30 per cent corporate rate was “weak”, unless the “mess” of Commonwealth-state taxation of natural resources was fixed and more revenue was raised from highly profitable mining and energy projects.

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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.