- The Honourable Speaker and Members of the House of Representatives
Australia is a country rich in natural resources. This is our sovereign wealth that really should belong to Australia’s people. They are national assets that should be used wisely for the benefit of the people.
Presently, our natural resources and all the wealth created from them is being given away for a song to mainly foreign mining corporations, who send billions in profits overseas.
The Australian mining sector has alarmingly reached 83% foreign ownership. In the next five years foreign owners will earn about $265 billion from their investments in Australia's mineral resources; and $50 billion of this will be sent overseas as dividends to those foreign owners.
We therefore ask the House to reinstitute and support the Resource Super Profits Tax of 20% of forecast profits, so that an estimated $100 billion can be spent on the long-term needs of Australian people and the environment over the next decade; in particular, education, healthcare, community services, public transport and for developing environmentally clean and sustainable industries and jobs.
We call on the government to establish a Sovereign Wealth Fund to store this wealth for the needs of future generations.
The Petition for a Resource Super Profits Tax petition to The Honourable Speaker and Members of the House of Representatives was written by Craig Greer and is in the category National Affairs at GoPetition.