One of the maxims of fiscal policy is that when a government is on the hunt for revenue, weird and unexpected things can happen. Everyone had better be wary, but especially large businesses that report large absolute profits.
This maxim was demonstrated in the recent federal budget, and it is being demonstrated again now in Western Australia, where the new Labor government wants – and is going to ‘ask’ – BHP and Rio Tinto to bring forward a number of years’ (30 is suggested) payment of the longstanding 25 cents-per-tonne iron ore lease rental fee.
Already a subscriber? Log in
Subscribe for just $2 a week
Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Or
Comments
Don't miss out
Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.
SUBSCRIBEAlready a subscriber? Log in