Peter Costello

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Labor Split on New $470m Mining Industry Tax

NO.074

LABOR SPLIT ON NEW $470M MINING INDUSTRY TAX

A split has emerged today in the Labor Party over Labor's proposal to impose an extra tax on the mining industry.

In Aim Higher, Labor's higher education policy, Labor announced a cut in the diesel excise rebate for the mining industry of 100% to 90% (3.8c/l) costing $467m.

Asked in Tasmanian Parliament today about this new tax increase, Deputy Premier and Minister for Mining Paul Lennon said:-

    "So on the issue of the diesel fuel rebate, let there be no doubt at all that the Tasmanian Government does not support the position being advanced by Federal Labor on this issue."

Labor's plan to increase tax on the mining industry will penalise people in mining communities, and smacks of the sort of crazy thinking that produced policies such as a Progressive Expenditure Tax, geographical GST-exemption zones, State income taxes, a Sydneysiders-only First Home Owners Grant, and the abolition of negative gearing on investment property.

CANBERRA

21 August 2003

21 Aug 2003

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