I almost guarantee the GST will be raised and this tax scrapped if ever it starts to lose money for the government. By then the government will be dependant on the revenues so will have to replace it with something.
The investment community are concerned that in a downturn the promise to refund 40% will not be honoured and so are not accepting the tax as is.
Really logical option if it does go through is to set up a future fund. Henry said it was not necessary because we will not run out of minerals. So ok we will not run out of minerals but we may run out of profitable ones. The minerals will be mined for free and 40% loss claism for the taxpayer to fund. GST will pay for it on day.
