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out of sync « Previous | |Next »
March 19, 2012

I've been photographing in and around Queenstown Tasmania for the past week or so and the postings on junk code have been non-existent. As I haven't had time to read the newspapers online because I've mostly been out on location, I'm kinda out of touch with the various events in the Canberra beltway.

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Queenstown, and the south-west of Tasmania in general, is still about mining. Development is mining. Despite the growing tourism, the world from Queenstown is seen through the eyes of the mining industry. Hence the mining tax becoming law is what is significant.

It is taken for granted that the mineral resources rent tax would dent investment in resource development and damage the mining industry. What is is interesting is that the resources boom appears to have little economic impact on Queenstown---the wealth is not being spread around.

The town remains depressed. It desperately needs investment in regional development and skills. There is little investment coming from the state government. So the way the proceeds from minerals resource rent tax (MRRT) will be used with respect to infrastructure investment is crucially important.

| Posted by Gary Sauer-Thompson at 9:03 AM | | Comments (8)
Comments

Comments

Australia is expanding coal mining at an unprecedented rate.

The rhetoric from old Australia is that If you stop the coal exports, or reduce our reliance on fossil fuel for energy, then the lights will go out, Australia will suffer from a depression, and the population will suffer from starvation.

Isn't the aim of taxation to ensure that some of the benefits of the boom go to the Australian community as a whole; and not just to Australian shareholders and employees?

Or to ensure that the super profits don't go mainly to foreign owners.

The current mining tax is too low because of the political power exercised by the Big MIners.

Nan says:

The rhetoric from old Australia is that If you stop the coal exports, or reduce our reliance on fossil fuel for energy, then the lights will go out, Australia will suffer from a depression, and the population will suffer from starvation.

It's the politics of fear--scaring the public by whipping up fear.

There has been a great wealth transfer in the last decade away from the citizens who owned the minerals to the companies exploiting the resources.That means the one-off, windfall gains from the resource boom are being lost forever.

The loony fringe of the mining industry

The MRRT will only cover iron ore, coal and coal seam gas. It wont cover BHP's Olympic Dam because that is uranium, copper and gold.

a solid bloc of voters in the middle ground doesn’t seem to care about Labor’s agenda.