8 Sept 2013

Mining tax a waste of time, think again.

The mining tax wasn't worth anything according to the Coalition

Who won the 2013 federal election?
The answer is “Tony Abbott” or “the Coalition” you’re right, but also only partially right.
For a bunch of other people are going to win as well. And a bunch of other people are going to lose.
Let’s start with the biggest winners. Mining companies.
Yes the Coalition’s long-delayed costings, released just two days before the election, show that clearly. 
The document released by the nervously sweating shadow Treasurer, Joe Hockey, says the abolition of the mining tax will cost the federal Budget $3.7 billion in foregone revenue over four years.
Yes $3.7 billion that wil not go into government coffers!
Yes, we’re talking about the mining tax which was widely criticised as a dud revenue-raiser.