Yep, that's the revelation from economics commentator Peter Martin: The Henry Review got the whole idea from a submission made by the Minerals Council of Australia, calling for a single national tax on profits instead of the current mish-mash of royalties.
Martin was on the money when he said the new tax is a good thing.
And former RBA head Bernie Fraser has come out agreeing and saying "it should have been done years ago".
(Has anyone noticed how much Fraser sounds like Neil the hippie on Young Ones? Or the Sandman?)
And now that's what they got, they are playing a high-stakes game trying to convince people they are suddenly hard done by, at the same time wiping millions off their share market values, and thereby off Australians' super funds. Although the share market is pegging back the losses now. (Aren't they a bunch of sookielalas with their regular pathetic over-reactions? It would be amusing if it wasn't our super money they are constantly undermining.)
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