federal mining tax

Looks like the Rudd Government has dug an enormous hole for itself with its mining rent tax.

Don't 'spose it realized that digging holes is very risky.

This wasn't what Henry & Rudd expected, they thought that everyone else in the world would queue up to dig the holes for them.

They have mined Australia's sovereign risk credibility pretty heavily, have they maybe found out that is a non renewable resource.

Having dug the hole, at least they don't pay tax on what comes out.

f111