So the whole damb tax is nothing but a straw man at this stage, which wil be defended by Rudd and Swan, but becasue they haven't really thiought the whole thing through raher than inmpose it in teh next budget they have decided to give it another two years of debate.
Irresponsible?
It looks pretty clear that it is being targeted at massive projects such as iron ore in WA but there is uncertainty whether it would be applied to a gold mining company producing sa 60k oz. It clear that its targeted at projects where companies are making say 80% profit, but its unclear at what level it would start at - 20/20/40%. It is clear that some companies would get their state royalties, but not all.
In the mean time the investment world will get the nerves. BHP was down 5% in London on Friday solely on the Henry tax!
What is big - don't know What is super - don't know What is refundable - don't know what wil be the over cost of this uncertainty? - don't know
Vote them out before the get a chance to do real and lasting damage.
