'You're gunna get wacked!' The political economy of the Australian carbon and mining tax reforms
On 1 July 2012 two significant new tax regimes commenced in Australia: a resource or mining tax and a carbon tax/emissions trading scheme ("ETS"). Both of these regimes have been highly controversial and, indeed experimental. Policy makers around the globe have watched with interest both the political economy leading to their introduction and their design features. It can be expected that the success or otherwise of their operation will be monitored. This paper seeks to outline the political economy surround their introduction. The evidence is that the Government may have induced or even deceived into introducing a mining tax that will be quite ineffective. Similar concerns might be levied in relation to the carbon tax/ETS. In any event, the future of both taxes is not assured.