Mining Tax will Cost Jobs, Harm The Economy and Worsen the Budget

 Tuesday, 21 March 2012

Federal Member for Mitchell, Alex Hawke MP said the Gillard Government’s mining tax, to commence on 1 July with the carbon tax, will do great damage to the Australian economy and he remained committed to repealing the tax.

“The carbon tax and the mining tax are the evil twins of the Australian economy – they will make Australian exports less competitive, cost jobs and harm the budget”, said Alex Hawke.

“You don’t create jobs by lifting taxes and you don’t strengthen an economy by making its most successful sector weaker.

“The Coalition opposes the mining tax because it makes mining investment in every other country more attractive – our international competitors will be popping the champagne corks over this new tax.

“Australian mining companies now pay a trifecta of taxation – company tax, state government royalties and the mining tax.

Alex Hawke said the mining tax also worsened the position of the Federal Budget.

“Labor’s mining tax has created a budget black hole of about $4 billion and growing.

“There is a very clear difference between the Coalition and Labor on taxation.

“Labor wants a carbon tax and mining tax.  The Coalition will repeal the carbon tax and mining tax because we believe in hope, reward and opportunity,” concluded Alex Hawke.