Ferguson denies misleading mining companies over royalties
Wednesday, 20/10/2010
The Federal Government rejects BHP Billiton's claim that it's reneged on a commitment to credit all state royalties as part of the new mineral resource rent tax.
Under the original resource super tax, all state royalties on minerals would have been fully refunded.
That was amended under the MRRT to provide a tax credit instead.
Federal Resources Minister Martin Ferguson says in his dealings with mining companies through the policy transition group, how future royalty increases would be dealt with was made clear.
"We made it very clear in May that we would recognise royalties at that date, in addition to any that were scheduled," he says.
"Beyond that, if there's a difficulty in industry, then industry has to fight that out with state premiers and treasurers, not the Commonwealth Government."
