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Fantastic. Pity here in Australia we just voted in a ~corrupt government who have signed a deal to allow Adani to open a huge new coal mine that doesn't even b

Fantastic. Pity here in Australia we just voted in a ~corrupt government who have signed a deal to allow Adani to open a huge new coal mine that doesn't even benefit Australians economically, and at a huge cost to the environment.

gkamsky 7y ago
Sucks
tootahe45 7y ago
Mining hasn't benefited Australia economically? what are they teaching over there?
- DanBC 7y ago
  Some mines require a lot of subsidies. These can be direct or indirect. https://www.australianmining.com.au/news/mining-subsidies-over-4-5b-australia-institute/ https://www.australianmining.com.au/news/mining-subsidies-ov... > The Productivity Commission figures from earlier this month showed the mining industry got direct subsidies of $492 million last year. > But senior economist at the left-leaning think tank Australia Institute Matt Grudnoff said total subsidy is almost ten times that amount when tax concessions given to mining companies are included. > “The mining industry has the lowest rate of corporate tax because it has so many tax concessions,” he said.
  - roenxi 7y ago
    But the bulk of those subsidies are the fuel credit rebate. On the one hand, it is technically a subsidy under the standard definitions of what a subsidy is. On the other hand, the tax was never intended to tax diesel because of some problem with diesel, it was literally intended to target (quoting from the Act [0]): "(a) fuel used in private vehicles and for certain other private purposes; and (b) fuel used on-road in light vehicles for business purposes." Ie, it is a tax on road users as a user-pays style of thing and the subsidy is an accounting trick to make it easy to implement. If a solar company used a lot of fuel without using the public road system, they would be eligible for the subsidy too. It isn't conceptually mining specific. [0] http://www8.austlii.edu.au/cgi-bin/download.cgi/cgi-bin/download.cgi/download/au/legis/cth/consol_act/fta2006103.txt http://www8.austlii.edu.au/cgi-bin/download.cgi/cgi-bin/down...
xxxxxxxx 7y ago
That deal was signed by Annastacia Palaszczuk, the State Labour premier, not the federal government.

gkamsky 7y ago

Sucks

tootahe45 7y ago

Mining hasn't benefited Australia economically? what are they teaching over there?

DanBC 7y ago
Some mines require a lot of subsidies. These can be direct or indirect. https://www.australianmining.com.au/news/mining-subsidies-over-4-5b-australia-institute/ https://www.australianmining.com.au/news/mining-subsidies-ov... > The Productivity Commission figures from earlier this month showed the mining industry got direct subsidies of $492 million last year. > But senior economist at the left-leaning think tank Australia Institute Matt Grudnoff said total subsidy is almost ten times that amount when tax concessions given to mining companies are included. > “The mining industry has the lowest rate of corporate tax because it has so many tax concessions,” he said.
- roenxi 7y ago
  But the bulk of those subsidies are the fuel credit rebate. On the one hand, it is technically a subsidy under the standard definitions of what a subsidy is. On the other hand, the tax was never intended to tax diesel because of some problem with diesel, it was literally intended to target (quoting from the Act [0]): "(a) fuel used in private vehicles and for certain other private purposes; and (b) fuel used on-road in light vehicles for business purposes." Ie, it is a tax on road users as a user-pays style of thing and the subsidy is an accounting trick to make it easy to implement. If a solar company used a lot of fuel without using the public road system, they would be eligible for the subsidy too. It isn't conceptually mining specific. [0] http://www8.austlii.edu.au/cgi-bin/download.cgi/cgi-bin/download.cgi/download/au/legis/cth/consol_act/fta2006103.txt http://www8.austlii.edu.au/cgi-bin/download.cgi/cgi-bin/down...

xxxxxxxx 7y ago

That deal was signed by Annastacia Palaszczuk, the State Labour premier, not the federal government.