Backdown puts one percent tax burden on Australia’s small business sector – Greens

Australia's job-rich small business sector will pay 29% tax rather than 28% to fund the Gillard government's backdown to mining corporations Australian Greens Leader Bob Brown said in Hobart this morning. That will cost thousands of jobs in the future economy.

"The Greens will ensure full scrutiny is applied to this deal with the mining corporations through a Senate committee. The Greens will be looking at the detail and seeking to improve the dividend for Australians from the mining boom," Senator Brown said.

"A part of the profits the tax raises should be put into a sovereign fund to invest in long term projects for the future, such as study for an east coast high speed rail link."

"In the end, Parliament will decide if this Gillard and mining baron deal stands. Australians will have a say at the next election when they elect a new Parliament, including a new Senate" Senator Brown said.

"Notably, uranium has been excluded from the tax," Senator Brown said.

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