The 1st phase, the massive increase in the price of commodities is over. That were the Howard Costello years.
The 2nd phase, the investment phase is just about over. Mines expanded and new mines created to take advantage of the short supply and high prices. With the massive investment came massive tax deductions. This is the Rudd Gillard time.
We are now starting the 3rd phase which is a rise in volumes due to new investment in the 2nd phase. The right time (apart from phase 1) to have a MRRT.
Article in the Age today about many companies just shifting profits to low tax jurisdictions. Pity we couldn't shift the high AUD and interest rates that they stuck us with.
