Mining tax was good

Seeing my local member trumpet the repeal of the mining tax reinforces a view the current government are out of touch. Here was a measure which recognised Australian minerals are assets that belong to all Australians and sought to ensure their value was distributed more equitably.

Australia's corporate tax base is slipping and the burden is increasingly falling on individuals. It is reported that the proportion of income tax collected from business has shrunk in recent years, falling from 23 per cent in 2007-08 to 19 per cent in 2012-13. At the same time, according to the Australian Bureau of Statistics, the proportion of income tax collected from individuals rose from 37 per cent to 39 per cent.

The mining tax was an additional income stream and its removal shows the lie of a "budget emergency" claimed by the Abbott Government.