to the tune of 4.5 billion dollars a year??
Why does the same "excuse" for not subsidizing the vehicle manufacturing industry not also apply to the mining
industry
It appears to me that any infrastructure the mining industry develops ie roads or railways..... have a mine at one end and a Port or refinery at the other
...... and are built for the express purpose of profit and expediency that ultimately benefits... the miners themselves.
.....especially the Uranium mining industry given Australia's unique position of holding more than 90% of the worlds Uranium raw product reserves... it's not like they can mine Australian ore anywhere else??
.... Just like mining towns are developed to lure miners and their families closer to the mines...that really only
maximises profit under the guise of "good citizenship"
http://thehoopla.com.au/mining-profits-facts/
The paper emphasizes that a large percentage of profits will be reinvested in Australia.
But a lot still makes its way overseas. Of the $37 billion profit to foreign equity owners in the 12 months to 31 March 2011, $7 billion was paid overseas as dividends or income withdrawals. Seven billion!
Some think this is state-sponsored theft. Others understand that without heavy overseas investment, the mining industry with the employment it provides and the taxes it pays, would be under-resourced at best and non-existent at worst.
Perhaps Australia would find a more acceptable middle ground if some of the handouts to the miners were subjected to some soul searching.
Since 2009, the WA Government for example, has given miners $9.2 million under an “Exploration Incentive Scheme”.
Gina Rinehart pocketed nearly $39,000. Andrew “Twiggy” Forrest took nearly $62,000.
Last year Ms. Rinehart grew nearly $1.9 billion richer. If would take her just over a minute to earn the $39,000 she took from the West Australian taxpayers.
http://greens.org.au/sites/greens.org.au/files/ending_fossil_fuel_subsidies.pdf
http://en.wikipedia.org/wiki/Rail_transport_in_Western_Australia
http://www.railpage.com.au/news/article-5777/
http://greens.org.au/sites/greens.org.au/files/ending_fossil_fuel_subsidies.pdf
The fact is that the Latrobe Valley now disused Coal mine fires is a shining example of how miners dump us once
the profitability is gone from the big hole in the ground....
atheism is a non prophet organization
