Tense standoff over mining tax
ABC TV, 7.30 Report
Wednesday 12 May, 2010
Professor John Freebairn, Department of Economics, discusses the proposed mining tax on ABC TV’s 7.30 Report, Wednesday 12 May, 2010
The Government hopes to raise 12 billion dollars in the first two years of introducing a 40 per cent tax on the so called ‘super profits’ of some resource companies from 2012, much to the chagrin of the companies themselves. Professor Freebairn comments that “The BHPs and Rios can huff and cluff but Government can call their bluff because after all the Government and the people own those mining resources.”
Read the full transcript on the 7.30 Report’s website.