Article – Labor concedes mining tax will go

28 May 2014
Nine News
Opposition Leader Bill Shorten has conceded Labor’s mining and carbon taxes will be repealed after July 1.
Speaking to a mining conference in Canberra, Mr Shorten admitted Labor would not be able to block the government’s repeal bills.
“In terms of the mining tax, despite what Labor’s position is, that will be repealed,” he told mining executives on Wednesday.
Labor’s stance on mining taxation was the first topic when the room was opened to questions.
The carbon tax would suffer the same fate once the new Senate formed in July, Mr Shorten said.
He said Labor would reform its policy but would not turn its back on climate change or support policies that paid billions of dollars to big-polluting companies.
During his address, the Labor leader declared the resources sector central to Australia’s economic strength and said the nation could “lead the world” in mining.
“There should be no limits to our ambitions,” he said.
He congratulated Gina Rinehart for her new development at Roy Hill, which is the world’s largest private capital investment in mining.
Mr Shorten said Labor would be mindful that mining companies already paid tax at a state and national level, and consider the industry’s role in building communities.
“They’re some of the principles we will adopt in the future,” he said.
After July 1, the Abbott government will need help from members of mining magnate Clive Palmer’s party in the Senate to repeal the tax, which Mr Shorten believes it has.
Courtesy of Nine News