Had to laugh about the government advertising bit ..... I believe John Howard will have that record in perpetuity, but I digress.
Good so we both agree that oppositions complain about government advertising when they are in opposition.
There were no doubt imperfections in the original legislation
Ya think???
, and without doubt imperfections in the resulting compromise (not least of which is the hypocrisy of State Governments who bemoaned that the Federal Gavernment was killing the golden goose, and then stuck the fork in with glee immediately after).
Did you just ignore the role that the treasurer, the PM, the big 3 mining companies played in the negotiation? It was the states and some companies whom were left out of two consultation processes and the negotiations.
But I look at intentions. The intention was to divert some of the more obscene profits away from mining companies and towards the general public,
So was the intent was to redistribute the profits from the shareholders to the public? If so its just another tax that is targetting one particular sector of the economy with highly variable and irregular profits and then relying on that revenue to fund recurrent expenditure. Unsustainable.
because if we can't afford to invest in things like infrastructure and education now, then we never will.
I am not arguing against spending in education and infrastructure, first of all they are state government matters, and second of all the current form of the MRRT opens up a new revenue sources for state governments - paid for by the federal government. Possibly not what the treasurer intended though!
The mining companies have a duty to protect their shareholders and no duty to the public,
False dichotomy.... The minerals belong to the states, and the governments from those states receive the royalties from the mines. The shareholders have paid the money to buy the shares to fund the exploration to find and build these mines, if it was so easy to find and run these mines then how come everyone isn't doing it? What are we doing here on AFF? Oh - thats right - you have to actually take a risk and contribute money and/or time to own a mine and enjoy the profits from it.
so they mounted a lovely feel good campaign about what a fantastic job they were doing and that nasty Mr Rudd was going to spoil it all.
What you mean the part about how they already paid slightly above average tax when all state royalties, mining lease fees, exploration rents, payroll tax, company tax etc is counted up? Not going to enter into a debate about PR campaigns - both industry and government had campaigns.
Net result - Rudd's popularity goes down further and his colleagues didn't need a second invitation to depose him.
Last time I checked the mining companies didn't sit in the ALP caucus meeting on the 24th June 2010 that ended Rudds term as PM. In Rudds own speech on that day
before he lost his job, there were five essential points brought up as items for concern for him:
1. The polls are bad (Rudd accepted some responsibility in this)
2. Abandonment/policy failures of the original emissions trading scheme (again - accepts some responsibility and thanks Wong for hard work)
3. Tax reform cough-ups (the RSPT being one) undertaken by Rudd, Gillard and Swan
4. Government waste and mismanagement BER
5. Importation of the "NSW-Right disease" into the federal ALP
Next the quick fix with Gillard,
there's your problem - Gillard inherited Swan's problem and then allowed him to make even bigger blunders! This should be in future Public Service handbooks about what
not to do when consulting, planning and implementing a tax.
but the mining companies held all the cards and gleefully slapped each other on the back as they walked away with barely a scratch.
Were they wearing their top hats and smoking cigars a-la Monopoly cartoon characters???
Eddy Obeid could not have gotten a better result.
You really fell into that one with Eddie Obeid.... I'm sorry - wasn't meant to be nasty at all OK.
So the baying mob that said the tax would destroy our economy are now criticising it for not delivering enough funds. How quaint!
A bit early to tell yet as mining investment has 5-25 year lead times, and is all tied up in external factors like commodity prices and exchange rates, but my own suggestion would to be go all the way back to square 1 and start consultation all over again without politicians being involved too much.
Maybe have a look at how taxation of the mining industry is done in Canada and other countries that compete against us for investment. Maybe compare all our taxation laws with some of our competitors and see what they do better and worse than we do.
And I mean all the way back to the 130 odd suggestions in the Henry Review or maybe even just tidy up the current tax laws might be a better start and look at them sensibly. Unless you think that the Greens or Tony Windsor have the expertise to somehow make the MRRT better?
Anyway - back OT its good that we have a democracy and we can all decide later in the year whom we want to elect and then they will decide who forms the government.