Wayne Swan Refuses to Release Mining Tax Numbers
Treasurer Wayne Swan refused to release the figures and assumptions relating to the Minerals Resource Rent Tax (MRRT) despite a Senate order. He said that to do so would damage the economy and it would be grossly irresponsible. The Gillard government is standing by the Treasury estimated of the MRRT raising $10 billion from the mining sector.
West Australian Liberal Senator Mathias Cormann, who is now the Opposition assistant treasury spokesman, and South Australian independent Senator Nick Xenophon have urged the government to release its assumptions and the information that it has on commodity prices. Senator Cormann has also said that the government's claim of a new era of openness and transparency is in complete tatters.
He also said that if the same assumptions were used for the Kevin Rudd's super profits tax it would have raised $24 billion. He considered the changes in assumptions extremely important and very relevant. He also said that without access to these assumptions nobody could tell if there was anything credible in what the government is saying.
However Mr Swan refused to yield and said that it was very market sensitive and it was simply absurd to suggest that sort of information be put into the public arena.
Written by
Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
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