The recent project by Woodside where it invested $13 billion Pluto liquefied natural gas project in Western Australia would not have been possible if the mining tax would have been in place. This has been stressed by Don Voelte, Chief Executive of Woodside. He maintained that its board of directors would not have approved the project under current regulations.

He also felt that if these proposals are implemented it will seriously harm the county's reputation as a destination for investment. He was speaking at an industry function in Sydney.

Don argued that this tax is not in the favor of anyone and will be against the interests of the country and its population. Investors can still be very cautious if these proposals are passed. He felt that foreign investors would not be willing to invest in Australia and it will have serious consequences for the Australian economy as a whole.

The fiscal situation in the country is already forcing businesses in Australia to seek foreign capital. Economists agree that it is very important to seen as a country where business are constrained by these kind of high taxes.

Leading mining Companies Rio Tinto and BHP Billiton have already expressed reservations about this tax. They have maintained that plans for expansion and future investments may be threatened due to this mining tax.