Resources Tax
It’s becoming apparent that the Rudd Government has slaughtered the goose that laid the golden egg – all for one grand pre-election meal.
It’s not so much the $16 billion that was shaved off the share price of resources stock within the first three days of Rudd’s shameful tax-grab-masquerading-as-reform. That was bad enough and thankfully for the moment stocks have at least stabilised.
Much more significant, however, are the rolling announcements of projects being shelved, expansion plans being abandoned and billions of future investment potentially heading overseas. Of course, we won’t see the effects of these decisions until well after the next election – so hang the long-term consequences for our nation.
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