people are free to start any business they like, no one is stopping anyone making different types of products for exports.
we export all sorts of things already not just resources, but we have a very small population and we control a very large amount of the planets resources compared to the population we have.
It would be immoral not to market the resources to the rest of the world, and eventually very dangerous .
You need some rainex, to get rid of the rust.Hopefully your 8th grandchild gets to keep their franking credits since you and your choice of government have sold out their working conditions.......
Geez that's some long bowYou need some rainex, to get rid of the rust.
It may be untill the grandson grows up, before your mob get in again, as for conditions it was your mob that raised the retirement age to 67, so don't make out they are some sort of protector of workers rights.lol
It is only the rusted on that believe the old chestnut, that Labor are in there for the worker, they are in there to get the perks same as most politicians. As has been proven across the globe, the workers are over Labor's BS, hopefully All can turn it around.
Anyway getting of thread somewhat.
Current royalties are a pittance, and the resources won't last forever.
It would be nice if the taxpayer got more out of our resources (like an export tax), rather than the profits going to generally foreign shareholders (Exxon, Chevron etc).
https://www.bbc.com/news/world-asia-china-52660198There is only one photograph in circulation of the Tibetan Gedhun Choekyi Niyima, one of the world's most famous "disappeared" persons. It is little more than a snapshot, taken when he was just six years old. It shows a boy with rosy cheeks and an impassive look on his face. That boy is now 31, and 17 May marks exactly 25 years since he and his family were disappeared by China, three days after he was identified as the reincarnated Panchen Lama, the second most important figure in Tibetan Buddhism.
Since he was taken, there has been no independent news on his fate.
How much do you think the royalties are? your not going by the false info from the article sprawler was fooled by are you when he said Iron ore royalties were only $0.25
Not sure what you mean by "It would be nice if the taxpayer got more out of our resources", because some of the largest taxpayers are the mining companies.
However, I think you really mean that you want the government/population to get more.
The fact is the government already gets a pretty large share of the value generated from mining when you add up all the ways in extracts cash at ever stage of the process.
Take Iron Ore for example
1, the government sells the exploration rights before we even know if there are any resources there, it charges income tax and Gst etc on all the wages of people involved in doing the exploring.
2, Once resources are found, before building the mine can start it charges a multitude fees, stamp duties, environmental levies etc + income tax on all the people needed to carry out design, planning and many other studies.
3, Once construction of the mine and infrastructure begins many millions of dollars in taxes will be paid by high income workers during the construction phase from income tax, GST, Alcohol, airport taxes etc etc.
4, Then many years later after the first exploration rights were paid, and after the mining company has spent ship loads of money which a decent amount found its way to the government, Actual mining can start and then the government takes 7.5% of the total sale price of the Ore + 30% of the mining companies profits + 30% of the employee's wages + GST and other taxes on investors dividends when they hit the share holders earnings etc etc.
All these taxes have to be paid either directly or indirectly from the sale of the Ore, when you add it all up over a mines life, a decent portion of the Ore sold goes to taxes already.
Given that every government since 1975 has done that, I don't see that any ordinary voter really made a choice in the matter.Hopefully your 8th grandchild gets to keep their franking credits since you and your choice of government have sold out their working conditions.......
Exxon reported as Australia's biggest tax dodger.
http://autotalk.com.au/industry-news/exxon-reported-australias-top-tax-dodger
Yes I think a hard landing is imminent.Brace, brace, brace
You should of got out of the powerhouse and tried working construction under Liberal governments
Like the Perth to Mandurah train line as one example
Not sure what you mean by "It would be nice if the taxpayer got more out of our resources", because some of the largest taxpayers are the mining companies.
It has more in common with the local fish and chip shop.
The issue with the mining industry could be compared to someone who throws in their university studies or trade license because they make a go of it in pop music or modeling.
Australia had a viable economy without the dominance of mineral exports, it wasn't zero but it wasn't the mainstay, but once mining ramped up it brought about the demise of most of what existed beforehand.
As iron ore grew larger, that was the end of building new factories in Australia. Governments lost interest in manufacturing since government had a source of revenue from the mines.
As coal exports grew that brought with it the closure of much manufacturing, a trend which accelerated as gas exports began and then ramped up. Not only did governments no longer need the money, the mineral exports held the AUD high and killed off the competitiveness of other industry.
Where the concern lies going forward is akin to the pop singer or model. You don't need to be an expert in music or fashion to know that most careers are over pretty quickly and that the chance of making a lifetime career out of pop music or fashion is not zero but it's extremely slim.
By all means grab the money while it's there, nothing wrong with that, but the rational approach is to leverage that into something more sustainable be it via business, education, financial investments or whatever. The idea of relying on it to last and that the whole country finds itself in a position akin to the has-been pop singer with no plan B is alarming to say the least.
Using that analogy, go back to the 1980's and take away shops were everywhere but have been declining ever since and most of them are gone today.
They all looked much the same with their ubiquitous row of flashing light bulbs, Coca Cola signs and usually tobacco advertising but are a far less common sight in the suburbs than they used to be: https://pbs.twimg.com/media/DtAM-RKU8AICTVY?format=jpg&name=small
Not a good business model for the country going forward really. A smart person back then would have sold the chip shop before McDonald's spread beyond the cities and before government stopped the tobacco companies paying $$$ to advertise anywhere they could and instead become a major player in gyms or something like that which has grown massively since then.
Australia is far closer to the US system than it is to China's.
We don't directly elect a Prime Minister, unlike the US which does directly elect the President, but we do elect the MP's who form government.
You can publicly criticise government policy all you like and, with the exception of those employed in a directly related area, you are free to do so without suffering consequences.
Much the same in the US. Americans are free to criticise Trump and his policies if they wish.
In contrast Chinese don't say a word against the government indeed they don't even get to choose who's in it.
The US is far from perfect and whilst better in my view, Australia also has flaws but at least we do collectively have the option to remove the government from power if we so choose.
They sure did die because of the high AUD and lack of government need to keep them running.the factories were going to die even if we didn’t mine, they didn’t die because of mining.
Not anywhere I've been there aren't.There are a lot more take away shops today than there were in the 80’s, and a lot more take away meals served each day.
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