NEWSFLASH! In September I will join The Conversation as its Business and Economy Editor. I have been honoured to work at The Age for the past ten years, originally alongside the legendry Tim Colebatch, and for the past four years as economics editor in my own right.

At The Conversation, my job will be to make the best thinking from Australia's 40 univerisites accessible to the widest possible audience. That means you. From the new year I will also write a weekly column.

On this site are most of the important things I have written for Fairfax and the ABC over the past few decades. I recommend the Search function. The site is a record for you, as well as me.

I'll continue to post great things from The Conversation and other places here, and also on Twitter and Facebook. Enjoy.

Friday, June 25, 2010

What's the government's offer?


Katharine Murphy had the story Thursday. It got overshadowed.


"The government has resolved to change its controversial resources super profits tax so that it is similar in design to the existing petroleum rent tax.

It will use additional revenue generated by higher commodity prices forecast for petroleum, iron ore and coal to fund transition arrangements for the industry, which has fought tooth and nail against the proposal.

The government will leave minor players in the sector — such as sand, gravel and also commodities such as nickel — outside the super profits net.

It has backed in solidly behind the 40 per cent rate — but it will boost the level at which the tax cuts in and modify its original plan to carry the industry's losses."



It'll be Gillard's compromise in name only, unless she tweaks it.


Related Posts

. No way back, no way out - the miners don't want a deal

. Mining is unprofitable, in an important sense

. Who wins? Who loses? This is worth reading