Mining tax on agenda

THE debate over taxing the mining industry by the Federal Labor Government to fund infrastructure in growth communities such as Gladstone has resurfaced.

Chamber of Commerce and Industry Queensland (CCIQ) yesterday urged the Federal Government to ditch its plan to introduce a Minerals Resource Rent Tax (MRRT).

Following the launch of a new mining tax advertising campaign, CCIQ President David Goodwin said the organisation’s principal concern was to highlight the significant impact the tax was having on business investment within Queensland.

“Unfortunately despite the progress in amending the RSPT (Resource Super Profit Tax) to the MRRT, the introduction of a new tax still stands and has eroded business confidence as many businesses anticipate reduced economic activity, increased costs of doing business and reduced employment levels as a result of these reforms,” Mr Goodwin said.

“Every single shop owner, home owner, worker and investor in Gladstone stands to lose out, thanks to this smash-and-grab tax,” Liberal National Party-endorsed candidate for Flynn Ken O’Dowd said.

“Mining is the dominant economic activity in much of regional Queensland and in central and north-west Queensland, mining accounts for between 70 and 90 per cent of the regions’ economies,” Mr Goodwin said.

Member for Flynn Chris Trevor said the agreement reflected a lot of concerns smaller miners raised.

“The most important thing is the agreement will see $10.5 billion over the Forward Estimate invested in more super for workers, better infrastructure and tax cuts especially for a small business,” he said.



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