I absolutely have to agree with the points you've made, Siamese....

I absolutely have to agree with the points you've made, Siamese. I find what the government is proposing to be shocking and ruinous to Australia's investment reputation.

It seems to me that, if Australia is to be a 40%partner in the country's mineral wealth, then it ought to shoulder the same amount of risk as the mining companies do, since that risk is a necessary prerequisite to extracting ANY value from the ground. Therefore, the government (i.e., we, as taxpayers) ought to contribute 40% of the risk capital. It's fair enough to say that what's in the ground here in Australia belongs to all Australians, but without risking the necessary capital input, there simply is no value there.

Rudd/ Swann say they'll compensate, in some degree or other, those companies that come up with a loss, but does anyone imagine they have in mind anything like 40% of the capital put at risk. I think that, unless Australians have contributed to the cost of creating that wealth, they ought not to claim it as theirs.

Cheers,

Tez