Newspaper article News Mail Bundaberg Qld.

Millions Spent on Fighting Tax; Mining Firms' $20M Effort to Sink Profit Grab Revealed

Newspaper article News Mail Bundaberg Qld.

Millions Spent on Fighting Tax; Mining Firms' $20M Effort to Sink Profit Grab Revealed

Article excerpt

MINING companies spent more than $20 million to sink a tax on profits and Kevin Rudd's Labor leadership.

New figures released by the electoral commission show the Minerals Council of Australia spent $17 million, BHP Billiton more than $4 million and Rio Tinto more than $537,000 in their battle against the Rudd government's resource super profits tax.

The government wanted to impose a 40% tax on all miners' profits. But Prime Minister Julia Gillard, who ousted Mr Rudd as the tax debate entered a stalemate, negotiated with the biggest companies for a 30% mineral resources rent tax applying to coal and iron ore only.

But some mining companies still refuse to accept the tax.

Infrastructure minister Anthony Albanese said the miners had waged a misleading campaign.

C[pounds sterling]We know in the lead-up to the last election there was a considerable amount of advertising done against the government, much of it very misleading,C[yen] he said. …

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