BHP cuts anti-tax adverts

MINING heavyweight BHP Billiton has fallen in line with the wishes of Australia’s new Prime Minister Julia Gillard, announcing today that it will cancel its advertising campaign against the resources super-profits tax.

At a press conference this morning Gillard showed some significant signs the government may shift ground on the RSPT, saying she would begin to "negotiate" with the mining industry over the proposed new tax.
She also announced her government would immediately cancel its advertising campaign over the tax, and called on the mining industry to do the same, as a show of good faith.
Today, a BHP spokesperson responded to the new prime minister's request, immediately asking its agencies to suspend all advertising.
“We are encouraged by the comments of new Prime Minister Julia Gillard, that her government will open the doors for negotiation with the objective of achieving consensus,” the spokesperson said.
“The industry has consistently been calling for the government to take the time to properly engage on all aspects of the tax, and we welcome the opportunity to do so.
“We look forward to working with the government in this new way to find a solution that is in the national interest.”
There is speculation that Australia’s mining sector has spent around $100 million on anti-tax advertising, however this figure has been disputed by the Minerals Council of Australia.
MiningNews.net was unable to get comment from Rio Tinto prior to publication.
Meanwhile, Western Australia’s Chamber of Minerals and Energy has also suspended the roll-out of planned advertising and will urgently review existing advertising in the Perth CBD.
CME president Kim Horne said Gillard’s commitment to consultation over the RSPT was a vital step towards ending the uncertainty, which had enveloped the industry and the national economy, since the new tax was announced on May 2.
“The industry has always supported genuine taxation reform, aimed at improving our international competitiveness, growing the industry and providing economic opportunities for all,” Horne said.
“This means putting all parameters of the proposed RSPT up for negotiation.
“We look forward to meeting Gillard and the new ministerial negotiating team as soon as possible.
“This issue needs to be resolved quickly, to end the uncertainty for companies, investors, workers and the wider economy.”
Shares in BHP have gained 72c to $39.86 in afternoon trade.

 

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