The tax backdown negotiated by Julia Gillard ended up costing the Australian taxpayer about $60 billion over the coming decade. Figures released by Treasury in February 2011 showed the original ''resources super profits tax'' would have made about $99 billion between 2012-13 and 2020-21. The revised minerals resource rent tax was forecast to earn $38.5 billion. A backdown, to be sure, but a tax nevertheless.
So, has the prospect of higher taxation killed mining investment and jobs? Hardly.
Thursday, October 25, 2012
HARD though it is to believe, there really is someone dimmer than blonde economics writer Jessica Irvine, who penned this analysis before being seduced to the dark ranks of Rupert Murdoch's scribblers: