SUPER PROFITS TAX CLAIMS NORTHERN JOBS

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The first signs of the tangible impact of the Rudd Governments new tax on mining have emerged in North Australia with the axing of the proposed $400 million expansion to the Ernest Henry mine in the Cloncurry region of North West Queensland

Shadow Parliamentary Secretary for Northern and Remote Australia, Senator Ian Macdonald said that Townsville, Mt Isa and Cloncurry are likely to be the first to suffer from the new tax.

“Do not be confused, the Rudd Government’s Super Profits Tax is the reason the investment dollars have been pulled out of Ernest Henry and the reason 60 contractors will lose their jobs and the reason up to 190 other jobs will be lost over time,” Senator Macdonald said.

“The news about Ernest Henry is a heavy blow for the economies in Northern and Western Queensland and countless businesses that support the mining industry will miss out because of it.

“In total, the Rudd Government’s super profits tax has today cost Queensland anywhere up to $6.4 billion dollars in investment and placed 3,250 potential jobs at risk.

“With the State Government due to deliver what will no doubt be a typical high taxing Labor budget next week, the need for private investment in Queensland has never been more critical. Why then is the Federal Government intent on driving mining jobs and capital investment overseas?

“Mr Rudd and Mr Swan need to swallow their pride and accept that their great big new mining tax is destroying jobs and putting the Australian economy at risk,” Senator Macdonald said.

End

03 June 2010

Media contact Gordon Terry      (07) 4771 3066   or   0427 960 255                 

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