Rudd Stands Firm on Mining Tax Fight

Rudd Stands Firm on Mining Tax FightPrime Minister Kevin Rudd believes that the a deal with miners over the Government's proposed super profits tax will not come into effect any time soon.

The Government is gearing up war with the Opposition and the resources industry concerning the tax apart from being in a frenzy to rush through a $38 million ad campaign to combat miners' claims.

Rudd alleges that mining Companies has provided incorrect information about his mining super tax, pledging that he will stand firm on the tax.

However, the ongoing fight over the tax issue is cited to exacerbate when the mining industry descends on Canberra this week, but Mr. Rudd clarified that he remained highly dedicated to the impost.

Mining bosses are reported to head to the national capital tomorrow for the annual conference of the Minerals Council of Australia, which has taken up the issue on behalf of the industry.

The Government is reported to be in consultation with nearly 80 mining stakeholders over the tax and received a first report from Treasury officials last week.

It outlines the 40 per cent rate of the tax is non-negotiable. However, it is highly expected that it may change on what is considered a super profit.