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Are there any estimates on how much AU is losing with it's resource policy.
by maxglute 2y ago
Are there any estimates on how much AU is losing with it's resource policy.
- mmerlin 2y agoTrillions lost if you compare Australia with Norway or Qatar resource tax levels. $4.125 billion per year is one loss estimate between 2012 and 2020. i.e. $33 billion over 8 years according to this parliamentary document (in the pdf there) https://www.pbo.gov.au/publications-and-data/publications/costings/lost-revenue-original-mining-tax https://www.pbo.gov.au/publications-and-data/publications/co.... In this case the 2012 the Liberal party repealed a freshly enacted resources tax, after being voted back into power with scare campaigns "ax the tax" being one of them, except ironically it was actually income for the country, and a tax on the profits of resource extractors. $4.125 Billion dollars PER YEAR gifted to extractors by the Liberals. No wonder they all get given nice "jobs for our mates" at the resouce extractors after they get voted out.