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Not too late to slow the mining gravy train

Media Release
Bob Brown 11 Apr 2012

Australian Greens Leader Bob Brown today welcomed the AWU's support for the Greens' advocacy of a mining tax package that delivers a fair return and sets aside funds for future generations in a sovereign wealth fund.

"We want a 40% super profits mining tax so the largely foreign-owned mining companies pay their fair share for the resources owned by the Australian people," Senator Brown said.

"A mining tax package which delivers a fair return and sets aside funds for the future would help to re-balance the budget without miserly cuts to services, as would abolishing fossil fuel subsidies.

"A stronger mining tax would have the added benefit of slowing the mining boom, potentially reducing upward pressure on the exchange rate and taking the pressure off other sectors of the economy - as the Treasury has advised.

"The government should, at the very least, move in next month's budget to axe the $2 billion diesel subsidy mining companies receive unlocking further much-needed revenue for health, education, public transport and a down-payment on a national dental care program," Senator Brown said.

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