House debates

Thursday, 3 June 2010

Questions without Notice


3:47 pm

Photo of Joe HockeyJoe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

My question is to the Prime Minister. I refer the Prime Minister to a statement today from Mr Ian Henderson, head of JPMorgan Chase London’s $7 billion natural resource fund, where he says that he has:

… reduced our Australian exposure … It’s been a wake-up call frankly. I had not thought that the changes in Australia would be quite as drastic as they are proposed to be.

He goes further in relation to the mining tax:

It clearly does reduce the attractions of developing new projects in Australia and indeed investing in Australian-based mining ventures… It has made people aware of the potential for these industries to be used as milk cows by governments. That has altered the risk profile for the mining industry probably for quite a long time.

Does the Prime Minister still think that his great big new tax on mining is going to grow investment and jobs in the industry?


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