Ferguson concedes tax flaws

Tuesday, 15 June 2010 14:58

RESOURCES Minister Martin Ferguson conceded today that one of the difficulties with the proposed resources profits tax may lie in its uniform approach to different industries, The Australian reports.

Mr Ferguson told the caucus meeting that “one size didn't necessarily fit all”, pointing to the differences between the oil and gas, sand and quarry and iron ore industries.

This is a major admission of the flaw of the one size fits all tax announcement without proper consultation. However, Kevin Rudd is still stubbornly refusing to listen and telling his colleagues to hold their nerve. See the full article here.

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