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PM must tell truth on report: Mining Tax plan could force taxpayers to pay for environment disasters.



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Greg Hunt 

Shadow Minister for Climate Action, Environment and Heritage 

 

PM must tell truth on report: Mining Tax plan could force taxpayers to pay for environment disasters 09/06/10

Australian taxpayers would be forced to cover nearly half the cost of a BP-style environmental catastrophe under its controversial mining super tax, according to a new report out today*.

Kevin Rudd must today confirm whether his own officials have told investors that the Government would guarantee 40% of a company’s losses from a big environmental disaster.

If these reports are right, Mr Rudd’s mining tax could expose taxpayers to massive financial risks.

In the United States, BP is being asked to cover the cost of the giant oil spill. According to today’s report, Mr Rudd would be expecting taxpayers to cover much of the bill.

The PM must come clean with the Australian public and confirm whether taxpayers face a risk of having to guarantee 40% of the cost of a BP-style environmental disaster in Australia.

Mr Rudd must tell the truth about what his Treasury officials told key investors last Friday about plan.

If this report is right, it just goes to confirm yet another big new problem with Kevin Rudd’s big new mining super tax.

No wonder former Labor Resources Minister, Peter Walsh, has come out today and bagged Mr Rudd’s flawed plan.

* http://www.theaustralian.com.au/politics/tax-to-see-voters-hit-for-disaster-costs/story-e6frgczf-1225877215086