Tony Abbot described the call for a greater share of our mineral wealth as “neo-socialism”.... Christopher Pyne called it "class warfare”.... They're right!
In 2010 the Henry Review of the Australia taxation system recommended extending the existing Petroleum Resource Rent Tax levied on off-shore petroleum extraction activities. This source of public income was considered a highly efficient, effective, and fair way to ensure that all people of Australia have a better share of the commonwealth that is our mineral resources.
Although supported by mining unions, some mining companies used to receiving monopolistic profits objected to the idea to raising billions of dollars of public funds which has been specifically directed to pensions, tax cuts for small businesses and infrastructure projects. They spent $22 million dollars in advertising, forcing the government to reduce the size and scope of the rent to iron ore and coal alone.
How do we Defend and Extend the Minerals Resource Rent Against the Most Powerful Vested Interests in Australia?
Saturday March 17th at 6pm Kingston Hotel Ante Room, 55 Highett Street, Richmond
For further information contact: Lev Lafayette, email@example.com, 0432 255 208
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