The coal miner’s election wish list

Australian’s go to the polls on Saturday 7 September with the opposition leader, Tony Abbott, currently the favourite to unseat Kevin Rudd as prime minister. After seeing government interference in the mining sector increase dramatically over the past six years of Labour government, here are three things the industry will be hoping for under a new Conservative government.

1. Scrap the super tax on coal and iron ore profits

The Minerals Rent Resource Tax was introduced in 2012 and levies a 30% charge on so-called super profits in the iron ore and coal mining industries. Although originally expected to raise AU$ 3 billion the for financial year to June 2013, tax revenues have been hit by the slump in commodity prices, making only AU$ 126 million in the first six months of operation.

2. Scrap the carbon tax

Introduced by Julia Gillard, the then prime minister, after the last general election, the carbon tax has been unpopular with industry and voters – with some blaming it for Labor’s slide in popularity. "Whoever gets rid of it will get my vote," said Mark Keene, a 54-year-old maintenance worker from Sydney quoted by the AP press wire, while Tony Abbott has the declared the election a “referendum on the carbon tax.”

To read the full article, please visit the World Coal website.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/06092013/coal_australia_mining_industry_hopes_for_less_red_tape_after_general_election_coalnews_17/