MINING GIANTS CRUSHED RUDDS PROPOSED NEW MINE TAX

Mining firms spent more

than $20 million in Australia

to bury Rudd’s tax

February 1, 2011 – 2:21PM

Mining companies spent more than $20 million to sink a tax on profits, and Kevin Rudd’s Labor leadership in the process.

New figures released by the Australian Electoral Commission show the Minerals Council of Australia spent $17 million, BHP Billiton more than $4 million and Rio Tinto more than $537,000 in their battle against the Rudd government’s resource super profits tax.

The government wanted to impose a 40 per cent tax on the so-called “super profits” of the country’s mining companies. But Prime Minister Julia Gillard, who ousted Mr Rudd as the tax debate entered a stalemate, negotiated with the biggest companies for a 30 per cent mineral resources rent tax applying to coal and iron ore only.

However some miners still refuse to accept the tax.

Infrastructure Minister Anthony Albanese said the miners had waged a misleading campaign.

“We know in the lead-up to the last election there was a considerable amount of advertising done against the government, much of it very misleading,” he said.

The Australian Electoral Commission figures also showed the Liberal Party continued to benefit from large donations from tobacco companies and the hotels and gaming industry spent big on both major parties.

But trade unions remained Labor’s key financial backers. The Australian Workers Union and the Shop, Distributive and Allied Employees’ Association each gave $200,000 to the ALP’s federal branch, which received $7.75 million in total over the 2009/10 financial year.

Billionaire mining magnate Clive Palmer’s Mineralogy was the largest individual donor to the federal Liberals, contributing $500,000 out of a total $6.3 million.

Across all states the Liberals received $41.22 million, compared with Labor’s $36.22 million.

Tobacco companies Philip Morris and British American Tobacco gave donations totalling just over $300,000 to the Liberal and National parties, while Labor and the Greens have banned such donations.

NAB and ANZ bank donated $100,000 each to Labor and the Liberals.

The nation’s 60 political parties received $89.5 million over the financial year – down from $98 million the previous year.

AAP

Sourced & published by Henry Sapiecha


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