Miners Furious over Australian Tax PlanAlistair Dawber
Some of the giants of the mining industry, and their backers in the City of London, have reacted with a mixture of anger and surprise to plans by the Australian government to impose a new resources tax. Shares in London-listed companies fell by as much as 7 per cent in trading yesterday, which was the stock market's first opportunity to react to the Canberra administration's plans to introduce a so-called "resources super-profits tax" from July 2012. The 40 per cent charge has already become known as the Henry tax, after Australia's Treasury minister, Ken Henry.
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