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March 18th, 2012 
FAKE NEWS for the Zionist agenda The Australian Greens have urged the federal government to immediately review the mining tax with a view to increasing revenue for nation-building reforms.
The package of bills for the 30 per cent tax on coal and iron ore profits is expected to pass the Senate on Monday.
Greens leader Bob Brown, who favoured the tax in its original form as the Resources Super Profits Tax, which was set at 40 per cent, said $100 billion in revenue had been lost to taxpayers when the government changed the parameters.
Increasing the tax would allow money to be channelled to funding school funding measures identified by the Gonski report, to setting up a dental scheme, to high-speed rail and to establishing a sovereign wealth fund, Senator Brown said.
On Monday he released a letter written to him by Prime Minister Julia Gillard agreeing to transparency measures he requested associated with the Minerals Resources Rent Tax (MRRT).
“In order to provide confidence as to how the tax is playing out and the precise ways the revenue is collected we will review resource rent taxes in order to publish monthly updates on revenue collections from these taxes,” Ms Gillard said in the letter.
Ms Gillard also agreed to release revised revenue estimates for resource rent taxes by January 31, 2013, including an update for collections and the latest market conditions.
Senator Brown said the measures were a good start.
“But we need a stronger review with the aim of increasing the tax take as soon as possible,” he said in a statement.
Any move by the coalition to repeal the tax if it won government would lose $40 billion in revenue, Senator Brown said.
Labor and the coalition both had revenue black holes, he said.
Ms Gillard urged the Greens to drop its opposition to the reduction in the company tax rate from 30 per cent to 29 per cent.
But Senator Brown said company tax for big business shouldn’t be allowed to go ahead because the revenue was needed for social, environmental and economic nation-building projects.
The Greens will seek to amend the mining tax legislation to remove a government commitment to fully credit mining companies for all future state royalties.
“This measure alone could destroy the revenue from the mining tax,” Senator Brown said.
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