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LoadedDog

14,252 Posts.

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24/02/24

23:35

Post #: 72580291
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Originally posted by moorookamick: ↑

Rio Tinto is 92% foreign owned and as such like other foreign owned
resource companied (BHP is 93% foreign owned), they want to
only dig it up and ship it out with minimal local content in order to
minimise Aus tax . Both companies have been fined over half a Billion
recently for avoiding Aus tax by transfer pricing via their respective
Singaporean marketing hubs.

We can design SEZs to counter both excessive. taxation and electricity pricing.
Its silly to have one of the highest electricity prices in the world when we export
massive amounts on LNG to manufacturing countries who then generate electricity
it much cheaper than we can...So much for our privatisation of electricity generation
recently!

But of course if we repeatedly say that we can't....then we can't and the multinationals love us for that.

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If you don't like an international company doing business in Australia, employing thousands of workers, why don't you organise your mates and buy them out?

But seriously, by your estimate Australia owns only 7% of Rio. Do you realise that Australia is only a small portion of Rio [7%?]. In your perfect world where Australians owned 100%, don't you think "you", a Canadian, would be bitchin' about the Aussies mining THEIR minerals?
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