Mining Democracy

photo credit: Urban~Spaceman Miners finally agree to tax reform. What are the changes? The attempt to harness economic rents for the public good has been renamed from the Resource Super Profits tax to the Mineral Resource Rent Tax. The MRRT kicks in at the corporate...

Gillard to Game Machiavellian Miners?

photo credit: Gary Denness Harold Mitchell, advertising supremo, summed up the mood that led to Kevin Rudd’s downfall, as quoted in the AFR, 23 June: It is an ‘amazing fact’ that ‘ordinary people on the street are barracking for five...

Victoria’s Transport Plan a No-Brainer

    photo credit: Schaffner Sometimes the ignorance of experts makes my blood boil.  Why can’t they do the arithmetic, the sums plainly before them? The Victorian Transport Plan will cost $38 billion and produce benefits of $180 billion, according to a...

Aussie miners: no one likes a whiney child.

photo credit: loungerie The Henry Tax Review recommended a resource rent tax to the Australian government, carefully designed to maintain incentives and reward risk. The miners responded with apoplexy and a campaign of deliberate misinformation that has left the...

Resource Rents to Balance the Playing Field

photo credit: Yuga. The government must focus on the rate of return between those who benefit from economic rents and those that are entrepreneurial. The Age reports today: …a Senate estimates committee was told the average profit in mining was 37.1 per cent,...

Housing Data Beckons Fall

photo credit: funadium Yesterday’s ABS release of a 14.8% fall in seasonally adjusted building approvals shows that property insiders understand that a crash is coming. If not them, then the banks curtailing credit for housing is another signal that housing is...

The New Resources Tax Reduces Mining Risk.

photo credit: jcarter   The Commonwealth of Australia was built on the sound principle natural resources are part of every Australian’s endowment. The Henry Tax Review recommended and the Rudd government has accepted a new tax system for mining that builds on...

Like Gold in a Coal Mine

photo credit: 10b travelling   Clear-eyed media commentary in the national interest is rare and sweet. Alan Mitchell’s analysis of the Henry Tax Review in the Australian Financial Review –  A tax on all your economic rents  – is such a creature. He...

Carrying through the Henry Logic

photo credit: Hexadecimal Time Letter to the Editor – Aust Financial Review Dr Terry Dwyer (Read Dr Dwyer’s Henry Review Submission) The Henry Tax Review has rightly acknowledged the fundamental economic principle that a tax on land (including resource)...