Australian Politics Forum - Now its time for Gillards $8Billion BLACK HOLE

Verge

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Now its time for Gillards $8Billion BLACK HOLE
Sep 7^th, 2010 at 9:05am

Oh this is gold. How good are the hypocrites and the treasury backers now.

"The Gillard government's proposed mining tax faces an $8 billion shortfall in revenue, according to a confidential report, The Australian newspaper says.

The report estimates the mineral resources rent tax will raise about $2.5 billion in its first two years, compared with the $10 billion the government forecast, the newspaper said on Tuesday.

The report, by global resources intelligence firm Intierra, has not been released.

It estimates fewer than 50 companies will pay the tax.

It also highlights concerns among miners that in order to raise the projected $10.5 billion, a Labor-Greens government would raise the tax or expand it beyond iron and coal."
http://www.skynews.com.au/topstories/article.aspx?id=509984&articleID=

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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Dsmithy70

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #1 - Sep 7^th, 2010 at 9:15am

Verge wrote on Sep 7^th, 2010 at 9:05am:

Oh this is gold. How good are the hypocrites and the treasury backers now.

"The Gillard government's proposed mining tax faces an $8 billion shortfall in revenue, according to a confidential report, The Australian newspaper says.

The report estimates the mineral resources rent tax will raise about $2.5 billion in its first two years, compared with the $10 billion the government forecast, the newspaper said on Tuesday.

The report, by global resources intelligence firm Intierra, has not been released.

It estimates fewer than 50 companies will pay the tax.

It also highlights concerns among miners that in order to raise the projected $10.5 billion, a Labor-Greens government would raise the tax or expand it beyond iron and coal."
http://www.skynews.com.au/topstories/article.aspx?id=509984&articleID=

Well it's no worry verge Abbott & Co have already used all the excuses under the sun.
Which shall I use first...............got it
"It's a difference of opinion"
&
"this from a treasury who couldn't predict yesterdays weather"
lastly
"Labor have put in hundered's of costings and this is the only difference of opinion all the rest have been agreed"

See Verge no problem ,won't Hockey/Robb/Abbott look silly trashing those very excuses now.
Seems both sides are in a pickle with Treasury Grin

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REBELLION is not what most people think it is.
REBELLION is when you turn off the TV & start educating & thinking for yourself.
Gavin Nascimento

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mozzaok

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #2 - Sep 7^th, 2010 at 9:16am

Another top story coming in is that the Big Bad Wolf says that Granny was a crack dealer, so he had to eat her to protect the community.

Seriously????

A report, (obviously far more likely to be well rounded and independent)(cough, cough) from a mining industry group about the resource tax is your big scoop??

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OOPS!!! My Karma, ran over your Dogma!

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Verge Gold Member Offline Australian Politics Posts: 6329 Gender:	Re: Now its time for Gillards $8Billion BLACK HOLE Reply #3 - Sep 7^th, 2010 at 9:17am It appears though Smithy that Gillard and Swan shouldnt have put all their eggs in the treasury are infallable basket. First they got the original amount wrong, now they have the revised one wrong again. Looks like this proved Abbotts point all along doesnt it.
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mantra

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #4 - Sep 7^th, 2010 at 9:22am

Verge wrote on Sep 7^th, 2010 at 9:17am:

It appears though Smithy that Gillard and Swan shouldnt have put all their eggs in the treasury are infallable basket.

First they got the original amount wrong, now they have the revised one wrong again.

Looks like this proved Abbotts point all along doesnt it.

I think this would make the Independents happy. It indicates that the mining tax isn't such a great threat after all.

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Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: Now its time for Gillards $8Billion BLACK HOLE Reply #5 - Sep 7^th, 2010 at 9:30am Essentially I care little for how it is worked out, other than the people's wishes are represented. We don't want to see - 1. A mining tax. 2. A carbon tax. 3. More refugees. 4. Greater debt. If we can have a Government riding with those key commitments, then I will be happy.
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Dsmithy70

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #6 - Sep 7^th, 2010 at 9:34am

mozzaok wrote on Sep 7^th, 2010 at 9:16am:

Another top story coming in is that the Big Bad Wolf says that Granny was a crack dealer, so he had to eat her to protect the community.

Seriously????

A report, (obviously far more likely to be well rounded and independent)(cough, cough) from a mining industry group about the resource tax is your big scoop??

Thanks for that Moz, I failed to check report before responding, that is now retified.
Nice selective editing there Verge, an old Macca trait, seeing its not a huge article
here it is.
Quote:

Labor off $8b on mining tax - report

The Gillard government's proposed mining tax faces an $8 billion shortfall in revenue, according to a confidential report, The Australian newspaper says.

The report estimates the mineral resources rent tax will raise about $2.5 billion in its first two years, compared with the $10 billion the government forecast, the newspaper said on Tuesday.

The report, by global resources intelligence firm Intierra,

has not been released.

It estimates fewer than 50 companies will pay the tax.

It also highlights concerns among miners that in order to raise the projected $10.5 billion, a Labor-Greens government would raise the tax or expand it beyond iron and coal.

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REBELLION is not what most people think it is.
REBELLION is when you turn off the TV & start educating & thinking for yourself.
Gavin Nascimento

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Verge

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #7 - Sep 7^th, 2010 at 9:36am

Dsmithy70 wrote on Sep 7^th, 2010 at 9:34am:

mozzaok wrote on Sep 7^th, 2010 at 9:16am:

Another top story coming in is that the Big Bad Wolf says that Granny was a crack dealer, so he had to eat her to protect the community.

Seriously????

A report, (obviously far more likely to be well rounded and independent)(cough, cough) from a mining industry group about the resource tax is your big scoop??

Thanks for that Moz, I failed to check report before responding, that is now retified.
Nice selective editing there Verge, an old Macca trait, seeing its not a huge article
here it is.
Quote:

Labor off $8b on mining tax - report

The Gillard government's proposed mining tax faces an $8 billion shortfall in revenue, according to a confidential report, The Australian newspaper says.

The report estimates the mineral resources rent tax will raise about $2.5 billion in its first two years, compared with the $10 billion the government forecast, the newspaper said on Tuesday.

The report, by global resources intelligence firm Intierra,

has not been released.

It estimates fewer than 50 companies will pay the tax.

It also highlights concerns among miners that in order to raise the projected $10.5 billion, a Labor-Greens government would raise the tax or expand it beyond iron and coal.

I copied the report word for word from the sky news site, and even provided the link.

I did no such editing, and am a tad annoyed at your insinuation.

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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Dsmithy70

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #8 - Sep 7^th, 2010 at 9:38am

Andrei.Hicks wrote on Sep 7^th, 2010 at 9:30am:

Essentially I care little for how it is worked out, other than the people's wishes are represented. We don't want to see -

1. A mining tax.
2. A carbon tax.
3. More refugees.
4. Greater debt.

If we can have a Government riding with those key commitments, then I will be happy.

Speak for yourself
I want a mining tax
I want a carbon tax ON POLLUTERS
I am not frightened by refo's & am generous enough to offer those fleeing persecution shelter.
I am not afraid of debt as long as it is building our country for the future.

That said how's Canada?

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REBELLION is not what most people think it is.
REBELLION is when you turn off the TV & start educating & thinking for yourself.
Gavin Nascimento

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Verge Gold Member Offline Australian Politics Posts: 6329 Gender:	Re: Now its time for Gillards $8Billion BLACK HOLE Reply #9 - Sep 7^th, 2010 at 9:39am What are you talking about smithy, your resport is the same as mine you dingbat.
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Dsmithy70

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #10 - Sep 7^th, 2010 at 9:41am

Verge wrote on Sep 7^th, 2010 at 9:36am:

Dsmithy70 wrote on Sep 7^th, 2010 at 9:34am:

mozzaok wrote on Sep 7^th, 2010 at 9:16am:

Another top story coming in is that the Big Bad Wolf says that Granny was a crack dealer, so he had to eat her to protect the community.

Seriously????

A report, (obviously far more likely to be well rounded and independent)(cough, cough) from a mining industry group about the resource tax is your big scoop??

Thanks for that Moz, I failed to check report before responding, that is now retified.
Nice selective editing there Verge, an old Macca trait, seeing its not a huge article
here it is.
Quote:

Labor off $8b on mining tax - report

The Gillard government's proposed mining tax faces an $8 billion shortfall in revenue, according to a confidential report, The Australian newspaper says.

The report estimates the mineral resources rent tax will raise about $2.5 billion in its first two years, compared with the $10 billion the government forecast, the newspaper said on Tuesday.

The report, by global resources intelligence firm Intierra,

has not been released.

It estimates fewer than 50 companies will pay the tax.

It also highlights concerns among miners that in order to raise the projected $10.5 billion, a Labor-Greens government would raise the tax or expand it beyond iron and coal.

I copied the report word for word from the sky news site, and even provided the link.

I did no such editing, and am a tad annoyed at your insinuation.

You are correct, I am guilty of skim reading, not enough sleep.
However that reason doesn't excuse my tardiness
My apologies Sad

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REBELLION is not what most people think it is.
REBELLION is when you turn off the TV & start educating & thinking for yourself.
Gavin Nascimento

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Dsmithy70 Gold Member Offline ire futuis vobismetipsis Posts: 13147 Newy Gender:	Re: Now its time for Gillards $8Billion BLACK HOLE Reply #11 - Sep 7^th, 2010 at 9:42am Verge wrote on Sep 7^th, 2010 at 9:39am: What are you talking about smithy, your resport is the same as mine you dingbat. LOL "Dingbat" love it
Back to top	REBELLION is not what most people think it is. REBELLION is when you turn off the TV & start educating & thinking for yourself. Gavin Nascimento IP Logged

Ex Dame Pansi Gold Member Offline Australian Politics Posts: 24168	Re: Now its time for Gillards $8Billion BLACK HOLE Reply #12 - Sep 7^th, 2010 at 9:54am Last ditch effort to discredit the enemy, too little too late, I'd say.
Back to top	"When the power of love overcomes the love of power, the world will know peace." Hendrix andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up..... IP Logged

longweekend58 Gold Member Offline Australian Politics Posts: 45675 Gender:	Re: Now its time for Gillards $8Billion BLACK HOLE Reply #13 - Sep 7^th, 2010 at 10:30am Ex Dame Pansi wrote on Sep 7^th, 2010 at 9:54am: Last ditch effort to discredit the enemy, too little too late, I'd say. so labors $8B blackhole is worse than Libs $7B blackhole, right? or does this only apply when the argument is in yout favour?
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Ex Dame Pansi

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Re: Now its time for Gillards $8Billion BLACK HOLE
Reply #14 - Sep 7^th, 2010 at 10:34am

longweekend58 wrote on Sep 7^th, 2010 at 10:30am:

Ex Dame Pansi wrote on Sep 7^th, 2010 at 9:54am:

Last ditch effort to discredit the enemy, too little too late, I'd say.

so labors $8B blackhole is worse than Libs $7B blackhole, right?

or does this only apply when the argument is in yout favour?

One report is from Treasury, who have all the facts and figures. The other report is done by a resources group.

You took the spin hook, line and sinker longy.

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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

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