Our AAA rating is dependant on "our" 3 big Iron Ore Miners: BHP: 92% foreign owned (see link) RIO: 88% foreign owned FMG: 92 % foreign owned/ownership held overseas
I have contacted News Ltd re their FMG data and I was advised that it was correct according to the Foreign Ownership Register as at the time of publication.
By the way, your mate Clive Palmer moved his ownership in his companies to Singapore from NZ 2 years ago......lower tax rates!
Just imagine if the 90% ownership (on average) of our Iron Ore profits stayed in Aus? Our banks would not have to go cap in hand overseas to borrow for Aus Household Debt & Home Mortgages now totalling $5.5 Trillion or over 250% of GDP.
I realise that you are calling your hip pocket and I'm calling Australia's hip pocket and with the current regime "never the twain shall meet"