Nick Minchin
Liberal Senator for South Australia
Contact
Senator the Hon Nick Minchin
PO BOX 2141
Kent Town SA 5071
36 Grenfell Street
Kent Town SA 5067
| Phone: | 08 8362 8600 |
| Fax: | 08 8362 8579 |
| Toll Free: | 1300 301 647 |
for the cost of a local call)
Parliament House
Canberra ACT 2600
| Phone: | 02 6277 3004 |
| Fax: | 02 6277 5703 |
| Labor Treats Senate With Contempt By Failing To Comply With Order To Table Henry Tax Review | Email this page | Back |
| Thursday, February 04, 2010 | Printer Friendly Version |
The Rudd Government has treated the Senate with utter contempt by refusing to comply with a Senate Order to table the Henry Tax Review no later than 9.30am today Shadow Minister for Resources and Energy Senator Nick Minchin said.
"The Rudd Government is to be condemned for failing to comply with a clear directive from the Senate to table this report, in order to end the damaging speculation surrounding its contents," Senator Minchin said.
"Instead of publicly releasing this review to enable a fully informed taxation debate, the Government chooses to selectively leak bits and pieces from it and then arrogantly refuses to confirm or deny the rumours and speculation stemming from these leaks.
"Of particular concern to the resources sector and State Governments are reports that the Rudd Government is considering scrapping the existing state based royalties regime and replacing it with a massive new Federal profit-based rent tax, which analysts predict would cost the mining industry billions-of-extra-dollars per year.
"Merrill Lynch estimates that the imposition of a 40 per cent resources rent tax could result in the long-term earnings of BHP and Rio Tinto being slashed by between 16-25 per cent, which would of course hurt thousands-upon-thousands of ‘mum and dad’ shareholders and major investors,” Senator Minchin said.
“The uncertainty and anxiety within the sector will continue unabated until such a time that the Henry Tax Review is released and the Rudd Government comes clean on what it plans to do in response to its recommendations.
“The Senate clearly supported the Coalition in its calls for the report to be tabled today and by thumbing its nose at the Order in place the Rudd Government has treated both the Senate and Australian taxpayers with contempt.
"I would again call on the Rudd Government to stop playing games, release the Henry Tax Report and end the uncertainty and unhelpful speculation regarding its contents," Senator Minchin said.