ID :
127857
Mon, 06/14/2010 - 22:56
Auther :
Shortlink :
https://oananews.org//node/127857
The shortlink copeid
Rudd to face nervous backbenchers
Prime Minister Kevin Rudd will front nervous backbenchers on Tuesday hoping to shore
up his leadership in the wake of poor poll results and his failure to "sell" the
resources super profits tax.
The embattled prime minister will face caucus on Tuesday morning amid speculation
about moves to replace him ahead of the election.
But senior party figures totally reject suggestions Mr Rudd is set to be replaced by
Deputy Prime Minister Julia Gillard.
Treasurer Wayne Swan insisted on Monday that Mr Rudd had the party's total support.
"I regard this as baseless speculation," he said.
"The government is 100 per cent behind the prime minister."
Mr Swan signalled the government would use the resumption of parliament to remind
voters of Mr Rudd's track record in terms of the economy in a bid to regain some
political capital.
"He's done a terrific job, he's kept Australia out of recession and he'll lead us to
the election as the prime minister," Mr Swan said.
"I think what we have to do is to get out there and talk about the importance of our
reforms to economic prosperity."
However, Mr Rudd is expected to come under increasing pressure as parliament resumes
on Tuesday for the final two weeks before a long winter break.
The proposed 40 per cent tax on mining company super profits has been blamed for a
series of poor poll results and it's understood Labor backbenchers will push at
Tuesday's caucus meeting for the issue to be resolved quickly.
Mining executives will again meet with government officials in Canberra this week in
an effort to strike a better deal, with Mr Swan suggesting the government was
prepared to make changes to the plan.
But the treasurer maintained the rate of the proposed tax was non-negotiable.
"We've always said our bottom line is for 40 per cent," he said.
"We've said from day one when we announced our response to the independent tax
review, that we would consult about generous transitional provisions and all of the
detail.
"Now many companies have done that in a genuine way. Other companies have not
necessarily engaged in that way."
The comments came as an analysis showed the market capitalisation of West Australian
listed companies plunged last month amid concern over the tax and softer commodity
prices.
The latest Deloitte WA Index showed the combined value of these companies last month
fell by $20.7 billion, or 12.6 per cent, to $143.8 billion.
Deloitte said the WA index, which is underpinned by mining companies, suffered the
largest fall among all of the major world indices during May.
Selling the tax plan could also become a little tougher with Family First senator
Steve Fielding set to move an amendment on Tuesday that would block funding in the
budget for ads about the proposed levy.
"I'm not going to let the government get away with wasting taxpayers dollars
promoting something which isn't even guaranteed to come into law," Senator Fielding
said.
up his leadership in the wake of poor poll results and his failure to "sell" the
resources super profits tax.
The embattled prime minister will face caucus on Tuesday morning amid speculation
about moves to replace him ahead of the election.
But senior party figures totally reject suggestions Mr Rudd is set to be replaced by
Deputy Prime Minister Julia Gillard.
Treasurer Wayne Swan insisted on Monday that Mr Rudd had the party's total support.
"I regard this as baseless speculation," he said.
"The government is 100 per cent behind the prime minister."
Mr Swan signalled the government would use the resumption of parliament to remind
voters of Mr Rudd's track record in terms of the economy in a bid to regain some
political capital.
"He's done a terrific job, he's kept Australia out of recession and he'll lead us to
the election as the prime minister," Mr Swan said.
"I think what we have to do is to get out there and talk about the importance of our
reforms to economic prosperity."
However, Mr Rudd is expected to come under increasing pressure as parliament resumes
on Tuesday for the final two weeks before a long winter break.
The proposed 40 per cent tax on mining company super profits has been blamed for a
series of poor poll results and it's understood Labor backbenchers will push at
Tuesday's caucus meeting for the issue to be resolved quickly.
Mining executives will again meet with government officials in Canberra this week in
an effort to strike a better deal, with Mr Swan suggesting the government was
prepared to make changes to the plan.
But the treasurer maintained the rate of the proposed tax was non-negotiable.
"We've always said our bottom line is for 40 per cent," he said.
"We've said from day one when we announced our response to the independent tax
review, that we would consult about generous transitional provisions and all of the
detail.
"Now many companies have done that in a genuine way. Other companies have not
necessarily engaged in that way."
The comments came as an analysis showed the market capitalisation of West Australian
listed companies plunged last month amid concern over the tax and softer commodity
prices.
The latest Deloitte WA Index showed the combined value of these companies last month
fell by $20.7 billion, or 12.6 per cent, to $143.8 billion.
Deloitte said the WA index, which is underpinned by mining companies, suffered the
largest fall among all of the major world indices during May.
Selling the tax plan could also become a little tougher with Family First senator
Steve Fielding set to move an amendment on Tuesday that would block funding in the
budget for ads about the proposed levy.
"I'm not going to let the government get away with wasting taxpayers dollars
promoting something which isn't even guaranteed to come into law," Senator Fielding
said.
