abc four corners hatchet job, page-246

Pear

"The biggest sovereign risk is in foreigners owing our assets and telling us what to do"

Rubbish, we beg for foreign investment because we cannot even fund our own mortgages. So who pays for the infrastructure for the mining? Then government want even more investment in mining to unlock marginal projects and who will get paid for that asset we supposedly own? We will get NOTHING on break even projects. NOTHING. There is zero guarantee we get paid for resources. There maybe one huge run on our marginal resources and we lose forever for no payment. The government does not care about us getting paid for resources dug up. It just wants part of the profit of the mega companies who have been able to achieve This great big profit from FORIEGN INVESTMENT.


We own the asset in the ground. Soon as someone invests their knowledge, their money, their tools we start losing ownership.
Then we have the tax funding tax cuts to companies and why? Corporate tax rates too high to attract foreign investment. the 28% tax is to attract foreign owners to non mining sector.

Rudd spin about foriegner taking profit because without their investment we would not have a mining industry and furthermore the design of this plan is not to deter foreign investors, but entice them to a different sector.

Rudd is brutally dishonest.