The new proposed mining tax will fail and will also damage Australia's damage as a safe destination for business. This opinion was expressed by Ross Garnaut, Australia's adviser on climate change. He stressed that if this tax goes through, it will have a negative impact on business and investment in the country.

A lot of other problems can still lead to a lot of problems for the Australian economy. There are a lot of problems in the European Union, US economy is still not out of downturn and Chinese growth is also slowing down. This has already put pressure on global share and commodity prices and pushed the price of Australian dollar downwards.

Experts are also pointing that imposing this tax will severely hit the fortunes of mining industry in Australia. This can also slow down and reduce investment in the sector which can lead to the loss of thousands of jobs. But mining Companies feel that all the industries should pay this type of tax.

Apart from other people, economists also feel that this type of tax means that people will lose faith in policy makers and Government. They will also serious doubt the ability of the Government to make sound policies.