'Supertax' to go ahead May 11, 2010 - 10:26AM
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Chris Bowen ... says the tax will go ahead.
The Rudd government is sticking to its plan for a 40 per cent tax on the super profits of mining companies, saying it always expected a rough ride on the way to its implementation.
"Nobody is talking about backflips," Superannuation Minister Chris Bowen told ABC Television today.
The government is facing fierce opposition to the tax from the mining sector and new concerns from state Labor premiers who are worried about the impost's impact on regional communities.
"We always knew that this was going to be a very rough ride," Mr Bowen said, adding it was a fight the government thought was worth having.
"We've said the 40 per cent is the appropriate figure, but there's a deal of detail about implementation that we're more than happy to talk about."