Regions Lose Under Budget

12 May

Media Release – Senator Barnaby Joyce, 12 May 2010:

Senator Barnaby Joyce asked today, “What has regional Australia been given in this budget?”

“Australia is heading toward a peak debt position, so the Labor Party tells us, of $222 billion. However, they are so totally unbelievable with every other prediction they make, you can take this prediction with a grain of salt.

Their plan to pay for their stuff ups comes from another attack on the mining wealth of regional Australia. Trouble is the stuff ups seem to be continuing at break neck pace. The Labor Party has managed to avoid this absurd form of economics since the attempt to nationalise the banks in 1949.

If you tax the mining profits to 57 per cent, the mining companies will be sure to be highly motivated to do one of two things. Move their operation to somewhere else or move their profits somewhere else. With the presence of vertically integrated cross border mining companies in Australia, this will not be as hard as some think. The trick will be how you trace profits. I can see a lot of hard work and brave souls that will have to exist in the tax department if this tax ever comes in.

The only sensible thing to do is to stop the tax. Mining has provided many regional areas with a once in a lifetime chance for development and the Labor Party has once more become a  parasite on the benefits.

If the Labor Party was interested in getting a fair deal for regional Australia, they would have announced in the budget a plan to return some of these extra funds to the areas where they were generated.

This budget is yet another promise the Australian people are expected to believe even though the Labor party has never got within a bulls roar of being an economically responsible government.

This time we’re supposed to believe they will be earnest, just like when they were earnest about the ‘greatest moral challenge of our time’,” said Senator Joyce.

More Information- Jenny Swan 0438 578 402

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