BHP angry at government tax grab

Miners and lobby groups have responded furiously to the federal government's intention to introduce a new resource super tax with BHP Billiton chief Marius Kloppers saying it will impact the future wealth of all Australians.


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This will have to go down as one of the most ill conceived taxes of all time. If China's economy falters, as it will one day, then the Fed Govt has effectively killed the workhorse of Australian industry. How stupid can one get? Bring on the Federal election and let's get rid of this Canberra menace.

Perth WA
Sadly, Mr. Rudd, in common with his international counterparts, cannot recognise the reality of a super-competitive world. There are fairer tax regimes elsewhere in the world as all Australians will realise as capital flees, exploraton diminishes and job opportunities shrink. Existing investors in this long-term industry are rather stuck and rightly offended - I doubt they'll be reinvesting in the near future. The key problem of course is that today's western governments operate on primitive paradigms rooted in obsolete concepts of social manipulation in the common interest and a strong belief that elected governments may do as they wish regardless of the rights of individuals. This essentially leads to a world without common-sense justice, without laws founded on experience and morality, but rather only on what is 'legal', i.e. defined by politicians and unsupported by examples of good practice in human history.

Lets stop mucking around and just secede. Get real, this would kill the rest of Australia and put WA where it belongs. Think of how cheap it will be to shop in Melbourne!

All this scare mongering ... we should have done it long ago and Rudd's only fault is waiting until 2012 to bring it in. With the world's population heading from 6 billion to 9 billion, and much of it in India and China where massive urban construction is needed, who but the ignorant and vested interests and their mercenary lobbyists, would see a problem with this better return for ageing Australia. How many of these voices complain about Australia being ripped off for decades with miserly 3% state royalties? Zippo! Who can support the states' rights when local small time politicians refuse to raise the royalty rates and then join the great conga line of resource industry consultants for the next stage of their career? How different is this from the brown paper bag system? If the 'great Australian' wants to go off shore and support competition from South America and Africa to bring this country down then take Rio and pack up and go -- we can then do a 20-30 year bilateral agreement with China to take all we can produce and split the middleman's commissions. No need to be paid in devaluing $US -- we can have cargo, housing and infrastructure built in return. How many indigenous houses built in the last few years -- 3? China could build 3 cities the size of Perth in that time! Give us a break – pay up or piss off!

As an economist and small investor who has foregone spending to save and invest in the key driver of Australian growth over the last decade to ensure my future financial stability, I am incensed by this Marxist nationalisation of the resources industry. This is how I have been rewarded for taking on risk of investment in what should be the economic beacon of hope for this country and state...Not anymore. In 2 days I have seen my modest portfolio (that includes no RIO or BHP) lose over 15% of its value as international investors and hedge funds flee this insane tax that will effectively kill the boom and stop investment dead in its tracks. There will be no new projects, no new jobs, no corollary community investment, no royalties, no flow on to all other sectors of the economy and no hope of paying the national debt. What will your 'super-tax' be worth then Swan? If this tax becomes law Australia will become a second World Country facing fiscal disaster as is Greece. I no longer want to invest in any new resource projects and I am sure I am one of a great many who feel the same. Without mining and energy investment we have nothing and all other industries will fail. What should we do? Go back to wool? This short term lunacy proposed by the Rudd government fails to understand the cylical nature and requirement for long term capital committments in the Resources sector and jeopardises all Australians' future particularly West Australians. We must not allow this to become law. It will be an absolute disaster. I see some companies have shelved major projects already. It is now, unbelievably, quite possible that Shell will walk away from the Arrow Energy purchase, as just one example of how multinationals wanting to invest in Australia may view this tax. The next stage is job losses and all other sectors will suffer in cascading waves of collapse. If unchecked, ultimately, WA will become a ghost town. The rationale of the Labour Communist Clown Show is the 'obscene' profits not being distributed 'fairly'!! Not one mention of the banks that routinely every quarter parisitically leach billions from all Australians who work for their money. What about some redistribution there Rudd? This just brings the absurdity of this tax into perspective (essentially all profitable enterprises should have a 40% 'success tax' applied to them by Swan's logic!!!). Bankers should be apoplectic at what this means to the long term future of the country and their businesses. Thanks Kevin, Wayne and Lindsay, you have robbed from my future to hand it on a plate to those in the unproductive areas of NSW and Vic, who have not taken any risk, not foregone consumption, not saved and not had the guts to believe in this Country's economic future by not investing in the key driver of economic growth for the last 10 years and the forseeable future, the Australian Resources Sector. We must stop this now by all means necessary as this is only the first unfair and unjust socialist assault by Canberra to redistribute the Wealth of WA in the East. Although difficult, secede now and lets be done with the Insane Communist Clown Posse for ever.

Mad As -your suggestions are beyond laughable. They, as your name suggests, emanate from someone not quite in charge of his faculties. Who do you suggest will have the expertise and experience to execute your grand Maoist plan, let alone who will actually do the work? You and your layabout mates salivating over your proposed handouts? Your inability to see beyond communist populist slogan is astounding and your grasp of economics is non-existent. You believe we should neglect the fact that it is investors that stumped up their hard earned to actually turn a patch of dirt into productive assets that give people like you jobs and money to spend? Mate you and Rudd can share your patch of dirt between yourselves and impose a 40% dirt tax. It is Investors (ie. those that have paid to make something of that patch of dirt) that will invest and build and grow this Country so we can afford to help you and other lame duck Moochers. It is you that should pay up or piss off.

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