One of Australian Opposition Leader Tony Abbott’s mining policies which will resurface if he wins government in 2013.
Australian Mining 5 April 2013:
The Federal Opposition plans to keep part of Labor's mining tax package in play, saying it will generate billions of dollars in the decades ahead.
Shadow treasurer Joe Hockey told The West Australian that the coalition would keep the Government's extension of the petroleum resource rent tax to onshore projects.
Until Labor’s introduction of the mining tax last year, the PRRT only extended to offshore oil and gas projects including the North-West Shelf and Bass Strait.
By extending it to incorporate onshore reserves, the PRRT will capture massive amounts of tax from the expanding coal seam gas sector in Queensland and NSW.
Treasurer Wayne Swan commented this morning saying the move would be a “staggering backflip” for the Opposition.
“They've adopted holus-bolus a substantial part of the MRRT package,” he said.
“It just shows a level of hypocrisy in the Liberal Party that is simply breathtaking.”……
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