5 May 2010

Miners are so poor, there they go of shore "REALLY"???

Two reports about the new mining tax. One from a stockbroker in London who deals in mining stocks (he wouldn't be biased) says that mining profits will drop by 30%, he is a supposed to be an expert according to the ABC.

The second report quotes the chairman of BHP as saying that this tax could in the worst case create a profit loss of 5% which might cause it to look off shore.

A third way to look it is through the Liberals eyes, they say that it will wipe out the mining industry in Australia because the Labour party really hates miners.

What is the real truth......the mining companies are greedy and they are terrified that other Governments may follow our lead.

The Libs will say anything at the moment to win the next election, if they did win Tony Abbott would love to use this tax.

If he were in power, don't think for one moment he would abolish it.
How often do we see Gov'ts do away with a tax.

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