coolshadows

Can't believe he's introducing a great big new 'super tax' for the mining sector. It's supposed to benefit us all, but I find that unlikely. Sounds far too simple, why haven't they done it before?

The Canadians are rubbing their hands as they now intend taking jobs.
super-profit-tax-will-boost-competitive-advantage-says-canadian-finance-minister

Power companies are now talking about tripling energy costs.
rudd-governments-tax-reforms-will-help-triple-prices-of-electricity

Where will it all end?

And the UK think they have problems finding responsible MPs.

When I first landed I was deluded into thinking that the Australian government was a refreshing change...how all that has changed.

Amazulu

Yep, he's a socialist prick and his true colous are now shining though.

Socialists are scum.

The Flintstones

Good on ya Rudd, perfect timing and nice to see a MP with some balls. Who cares if it limits growth a little, Australia's resources aren't unlimited so why sell them at a cut price.

steve`o

more to do with robbing peter to pay paul than substainabilty

renth

Rudd has really blown it this time.

"It’s the old story isn’t it? The thieving government wasn’t happy with stealing 30% of company profits, so they thought they’d try and grab a bit more. Except the geniuses in government will soon realise they’ll now get 40% of nothing."

http://www.moneymorning.com.au/20100...igger-tax.html

Amazulu

Agree. It's no different from Comrade Brown and ZANUlabour raiding the pension system and introducing shitloads of stealth taxes to pay for more civil servants.

bcworld

I think this is really bad policy (and expect a backflip soon).

Much as I thought avoiding a technical recession by spruiking the housing market and dropping thousands of dollars in peoples bank accounts was bad policy.

Or lobbing money at tradies so they could rip off the taxpayer on 'nation building' projects.

etc, etc.

Now all I need is a Liberal party NOT headed up by Tony Abbott!

jad n rich

Rio drop 11 billion WA project. Umm.

Amazulu

It's a rumour so far. There has been no communication to us about this and no announcement to the ASX (which is required). I reckon RTIO are posturing at the moment and this story has a long way to go yet.

quoll

Dudd is a master of the unintended consequences. He has actually done very little (thank God) and what he has done has turned to sh*t in no time flat despite all his spinning and spruiking. Worst Aus PM ever (and beating Gough in that regard takes some doing!)

renth

Wonderful diplomat, lousy PM.

Tuxtrip

History repeating itself I'm afraid. The Libs take 20 years to fill up the coffers and the Labour louts come in and spend it all in their first term of office.
Rudds biggest undoing is his bloody ego. That and his creepy demeanor.
Cannot wait to go to the polls ..........

verystormy

As someone who works in the industry, if this goes through it will be disaster for Australia. Everyone is looking at their Australian projects and the multinationals are going to be looking at at least trimming. The reality is that Oz has always been a very expensive place to operate a mine and this is likely to tip it over the edge. For those who dont appreciate how big a issue this is, tell me what major industries does Oz have other than mining. I suspect in the not to distant future i will find myself applying for a visa for Canada.

Weebie

Australia is a nothing country without mining. Has anyoen ever sat and thought about what this country would be like without it? It would be a nothing country. A Large poorer version of New Zealand.

mulben

Saudi Arabia is a nothing country without oil

and your point is in a different reality ...what !!!