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Australia Opposition Says Top Priority To Dump Carbon Tax

The Business Times

Australia’s conservative opposition said its top priority if it wins elections in September will be to repeal taxes on mining profits and carbon, blaming both policies for stopping fresh investment in the vital resources sector.

Prime Minister Julia Gillard’s Labour government introduced a fixed carbon price about a year ago in a country with one of the world’s highest per capita levels of carbon emissions, with plans to transition to emissions trading from 2015.

The carbon scheme, along with a 30 per cent tax on iron ore and coal mining profits, have been criticized by miners, who say it damages competitiveness and employment as Australia’s AAA-rated economy slows and China’s demand for minerals cools.

“Both the carbon tax and the mining tax are a drag on Australia’s energy and resources sector and make investments less attractive than investments in other countries,” opposition resources spokesman Ian Macfarlane told a mining conference.

The Business Times, 26 June 2013