Media Release

KAP Federal Leader and Federal Member for Kennedy Bob Katter last night, voted with the Federal Coalition to abolish the mining tax which has been a body blow to our Australian mineral resource industry.

Since its introduction by the former ALP Government, Mr Katter has been a strident opponent of the Mining Tax which collects 22.5 per cent on the profits of mining companies - which has so far come to billions of dollars less than that first estimated.

“The people of Kennedy will be delivering our vote and our support to abolish this tax and get rid of it for good.

“The mining tax was a body blow to Australia.

“After its introduction, the Ernest Henry mine in Cloncurry – one of the fourth or fifth biggest copper mines in the country – immediately closed.

“I agree with the Coalition, that the mining tax was an absolute disaster; leaving a question mark hanging over our mining future throughout North-West Queensland,” Mr Katter said.

Mr Katter reminded the Australian Parliament that the mining tax was quite extraordinary, because the mining tax cost more to raise than it delivered to the former ALP Government in revenue.

“One mining company told me that the mining tax cost between $3 and $7 million dollars just to administer,” Mr Katter said.

“This was sold originally to the public as a mining development fund.

“I would put it that we are killing the goose that laid the golden egg instead of making the bustard [a large Australian ground bird] breed,” said Mr Katter.

The abolition of the mining tax was one of Mr Katter’s 20 point policy reforms in which he delivered the Coalition his vote for Government, following the 2010 ‘hung parliament’ negotiations.