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

My question is to the Prime Minister. I refer the Prime Minister to the following statements made by economic analysts about his proposed big new tax on mining. Chris Richardson from Access Economics said:

… the cost impact of the new tax will send some greenfield developments towards Canada, Indonesia, Brazil and others.

Citigroup said:

The ill conceived RSPT is likely to have a savage impact on iron ore wiping … one third of the incremental value of new Pilbara projects in Australia.

JP Morgan, one of the biggest banks in the world, said:

The proposal has created immense uncertainty and risk and significantly affects fundamental value.

Prime Minister, when will you listen to the real concerns of real economic analysts and investors and dump this really bad tax?

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