commonwealth

no, they get a mining tax instead, c/o ms gillard. plus royalties paid to the states.

roaringmouse

The state royalties can be used to offset the MRRT - that's a tax break.

commonwealth

otherwise it's tantamount to double taxation.

bingobob777

Banco Santander is above them all, that says more. It has assets of 1.6 trillion according to that report, wonder if they've knocked 50% off the price of their Spanish property assets, land etc.

Banco Santander is as secure as Spain, which ain't very.

Brisbane house prices fell 7% in 2011, do you think the big 4 are valuing their assets based on that, of course not.

chris955

As an aside the knock on affect from Toyota cutting its workforce and reducing output is that 3000 more jobs could go in the car parts industry.

bcworld

The decline in retail seems to be affecting youth unemployment as well.

Young workers hit by rising unemployment

chris955

I laugh when people talk about the youth unemployment level in the UK when the situation is almost as bad. There are none so blind as though who cannot see.

commonwealth

Free market capitalism

+1

Let the fittest survive with least govt intervention.

No to subsidies! No to controlled exchange rates! No to quantitative easing and bank bailouts!

Amazulu

I bet these guys must be glad to be part of such a vibrant, successful, manufacturing-based economy:
http://www.telegraph.co.uk/news/ukne...-job-cuts.html

Amazulu

Yep, that's you.

commonwealth

UK situation is almost as bad??

Theres a 3% difference.

slapphead_otool

Although Chris is on my blocked list, I take it that the thread is about the Toyota cutback.

Late last year the plant was beset by industrial action over a very minor difference between a management offer and a union demand ( from memory the difference was 1%). At the time the management warned the workforce what would happen.

The Japanese don't like strikes, and they don't like losing face. They tend to act quite ruthlessly to both. And they don't bother telling the truth about how they retaliate.

My guess is this is a kick up the arse to the union who caused the strike, and has nothing to do with the height of the dollar.

It may also have been intended as a threat to Gillard and her union paymasters.
Just my 10c...

Edit: Ahhh yes, google is your friend

The company’s “fair and reasonable” offer of an 11 per cent pay raise over 39 months is still on the table, but according to Toyota has neither be accepted nor rejected by the unions. The unions are believed to be steadfast in their pursuit of a 12 per cent increase over 36 months.

Production workers, lead by the Australian Manufacturing Workers’ Union (AMWU) and the Electrical Trades Union (ETU), stopped work for 24 hours on September 2, and planned further industrial action for Thursday and Friday of the following three weeks (September 8, 9, 15, 16, 22 and 23) and a ban on overtime from September 8.

Toyota applied to Fair Work Australia (FWA) last week to stop the industrial action, and FWA granted an interim order suspending industrial action for last Thursday and Friday.

However, FWA has since dismissed Toyota’s application for suspension or termination of the industrial action, which means the workers and unions are free to strike as planned.

Workers at the Altona production plant and the Toyota Parts Centres in Melbourne and Sydney are expected to strike tomorrow.

Toyota Australia says it is still willing to hold discussions with unions and workers to reach an agreement.

http://www.caradvice.com.au/137961/s...re-toyota-ceo/

chris955

Yes that's right.

commonwealth

Well at least Australia doesnt have to resort to Quantitative Easing and Bank Bailouts just to prevent a collapse.

The UK is in life support and injected with drugs* just to keep its heart beating.

*courtesy of a massive debt pile

Australia is minimally intervening on the other hand.

commonwealth

Do you know how many people that translates to?