Miners revolt against super tax
Mining magnate Clive Palmer on Lateline discussing the Federal Government's proposed resources super tax, a policy he is fiercely opposed to.
Mining magnate Clive Palmer on Lateline discussing the Federal Government's proposed resources super tax, a policy he is fiercely opposed to.
TONY JONES: Does the super profit tax threaten the viability of your $6.5 billion Galilee basic coal project, sometimes called the biggest coal mine in the world?
CLIVE PALMER: I think it threatens the viability of our whole country.
You know, never in the history of this country has so much wealth been wiped of the ledgers of the Australian people as we've seen in the last three days when $16 billion has been wiped the value of mining stocks in Australia - when mums and dads and ordinary Australians have seen the treasurer destroy their future and the future retirement.
And this is what's really wrong - it goes at the whole viability of our nation and that's why it's got to be stopped and that's why Tony Abbott's the last sentry at the gate and he'll throw the Government out at the next election.
TONY JONES: So tell us about this biggest mine in the world - your Queensland Galilee project. Is it under threat or not in reality? Will it go ahead?
CLIVE PALMER: Well I think the things we've announced will go ahead because we've put the finance in place for the things that we've already announced. But there are projects that we haven't announced, that we've been planning, that we'd have to stall on if this was to become a reality.
But I don't believe Australians will cop it. I don't believe they'll accept the regime where normal people pay 30 cents in the dollar tax - normal companies - for putting their money in the bank.
And miners are hit 70 per cent for going out there, taking the risk, develop- creating the jobs and creating the exports.
I'm quite happy to have a super rich tax - tax me all you want to, tax me 90 per cent. Tax me 101 per cent.
But don't destroy the economy and don't destroy the industries that are employing thousands of Australians - ordinary mums and dads around Australia.
That's what the Treasurer is doing and he doesn't realise it.