"If the Resource Super Profits Tax had been announced on May 2, 1990, the community would have been able to put it in that context". (p.1)
"The Great Crash raises fundamental questions about the capacity of contemporary Governments of democratic capitalist countries to implement policies in the public interest that are contested by powerful private interests". (p.2)
"The governments of democratic capitalist economies “face a constant war against almost unlimited financial demands on the state by citizens and lobby groups...”.
"The essential reason why Australia is faring better is that we went through a couple of decades in which our policy-making processes were opened up for a while to influence from an informed and independent centre of the polity. This allowed the building of support for reform in the national interest, against the private interests that received benefits from the unreformed system".
"I am saying that the Australian Government has taken a position on the basis of advice of people of knowledge and standing, that asserts some hard propositions about the national interest, at the expense of some private interests that exercise considerable influence in our polity". (p.3)
"Australia is a country that must make its way on its own, outside the monetary and trade andeconomic blocs of the North Atlantic, in a democratic capitalist world in crisis". (p.3)
"What is important is that this time, on this subject, we demonstrate that we can still discuss policy proposals with clarity and rigour, listening to interested parties, with their words having influence according to their content, and not according to the cruder instruments of political influence that accompany them".
"An accepted ideal in any system of taxation is that it should as far as possible be “neutral”. The ideal of neutrality is that, without good reason, the tax should not alter decisions on investment, production or trade". (p.4)
He adds that "Many Australians would add that the recovery of mineral rent from the companies to which rights to mine have been allocated for the community represents a move to more equitable distribution of income, in a way that has lower economic costs than other measures to promote distributional equity". (p.6)
"A disadvantage of the Brown Tax (BT) is that it entails the greatest risk to the government". (p.9)
*IMG source. Wikipedia