Is mining employment�better off with Government`s new profit tax proposal?

KPMG Econtech`s chief economist, Chris Murphy, modelled the proposed 40% tax for the Treasury.

He said the tax offered a better deal for miners than royalties because it taxed only profits, “not the first dollar of production`.

The Mining Industry is running a campaign against the tax.

Do you have an opinion on whether this is a fair move by the Government or not? Do you think the larger companies can afford it? Do you think it will adversely affect the future of mining in this country and the number of jobs that become available?