Palmer: Swan and Gillard Killing Mining Investment

Mining executive Professor Clive Palmer has slammed Prime Minister Julia Gillard and Treasurer Wayne Swan for imposing a mining tax that has failed to raise rev-enue and only managed to kill invest-ment in Australia’s resources sector. Professor Palmer said the Minerals Resource Rent Tax (MRRT) has so far in 2012-13 not raised a cent highlighted the damage the government has caused to the nation’s economy for zero gain.

“The MRRT has killed investment in Australian mining and it has also destroyed Australia’s role in mining exploration for future generations,” he said. “Nobody is to blame other than Wayne Swan and Julia Gillard. They have stuck their heads in the sand while the people of this country suffer because of an incompetent tax that at the end of the day raises no money.”

Professor Palmer said the future of Australia’s export trade, as well as the future of many Australian families, would be in jeopardy while the MRRT remains. “The MRRT highlights how this govern-ment and the treasury are out of touch,” he said.

As featured in Womp 2012 Vol 11 -