How to cook the goose that lays golden eggs

13 03 2012

The tax is not even in yet but it is already working exactly the way I said it would. No government is exempt from the laws of economics any more than they exempt from gravity…

AUSTRALIA’S global share of the capital raised for mining projects has sunk from 21 per cent to 15 per cent since 2008 as other countries such as Russia, India and China attracted tens of billions of dollars in additional funding…

The figures, which were compiled by research firm Intierra and the Association of Mining and Exploration Companies, show that the value of capital raisings in Australia increased slightly from $4.3 billion to $4.5bn between 2008 and 2011.

But in the same period, the value of capital raisings rose strongly in Africa (up 26 per cent), Canada (up 31 per cent), South America (up 59 per cent) and the rest of the world (up 78 per cent)…

AMEC national policy manager Graham Short said the data proved federal and state governments had to recognise Australia must become more competitive in attracting investment…

“We have extreme concerns with things like the mining tax and carbon tax.”

It’s not going to happen until we vote the most economically illiterate government of modern times out of the office.

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