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Kevin Rudd Feeling Pressure on RSPT Closer to Home

By Joel ScanlonJun 16 2010

The pressure from the Mining Industry may be starting to show on the government as Resources Minister Martin Ferguson mentioned that the Australian Government may change certain elements of the new mining tax for different parts of the industry.

Ever since the new Resources Super Profits Tax or RSPT was announced the federal government has been criticized by mining bosses for the unreasonable 40% blanket tax rate. The large number of people dependant on mining for employment have been worried about mining operations being shut down and being left unemployed if companies decide that the RSPT makes mining projects unprofitable.

The Prime Minister has had to defend the new law for mining just as much as he has had to force ahead with his proposed health reforms policies. With the elections looming large Prime Minister Kevin Rudd is now facing pressure from a new source, his own party.

The furious opposition by the mining industry notwithstanding, perhaps the party and the government would do well to negotiate with the industry with a somewhat modified proposal.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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APA
Scanlon, Joel. (2019, March 19). Kevin Rudd Feeling Pressure on RSPT Closer to Home. AZoMining. Retrieved on November 21, 2024 from https://www.azomining.com/News.aspx?newsID=27.
MLA
Scanlon, Joel. "Kevin Rudd Feeling Pressure on RSPT Closer to Home". AZoMining. 21 November 2024. <https://www.azomining.com/News.aspx?newsID=27>.
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Scanlon, Joel. "Kevin Rudd Feeling Pressure on RSPT Closer to Home". AZoMining. https://www.azomining.com/News.aspx?newsID=27. (accessed November 21, 2024).
Harvard
Scanlon, Joel. 2019. Kevin Rudd Feeling Pressure on RSPT Closer to Home. AZoMining, viewed 21 November 2024, https://www.azomining.com/News.aspx?newsID=27.