DJ Australias;s Opposition Leader: No Way Coalition Can Support Mining Tax
(MORE TO FOLLOW) Dow Jones Newswires May 05, 2010 00:21 ET (04:21 GMT) DJ Australia;s Opposition Leader: No Way Coalition Can Support Mining Tax
CANBERRA (Dow Jones)--Australias main conservative Liberal-National opposition won't support the government's proposed 40% tax on the so-called "super profits" of the country's mining companies, Liberal leader Tony Abbott said Wednesday. "I have made it very clear that I am deeply hostile to this great big new tax on the most efficient and the most competitive sector of our economy, the sector of our economy which above all else has helped us to survive the global financial crisis," Abbott told reporters. "I can see no way that the (Liberal-National) coalition could support it," he added. Abbott met with senior executives of mining companies, including BHP Billiton Ltd. (BHP.AU) and Rio Tinto Ltd. (RIO.AU) in Canberra earlier Wednesday to discuss the tax proposal.
-By Rachel Pannett, Dow Jones Newswires; 61-2-6208-0901; [email protected]
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(END) Dow Jones Newswires May 05, 2010 00:30 ET (04:30 GMT) Copyright (c) 2010 Dow Jones & Company, Inc.
Wednesday 05 May 2010 14:30:00.000 AEST
BRM Price at posting:
$2.88 Sentiment: None Disclosure: Not Held
