Bowen says super tax rate is right

The proposed resources tax will be just one issue at the upcoming federal election
and its tax rate is at the right level, Financial Services Minister Chris Bowen
says.
He says the resources super profits tax (RSPT), which will tax miners at 40 per cent
of profits above the 10-year bond rate, "is the right thing to do for (the) nation."
"I think we got the rate right," he told reporters at a stockbroking conference in
Melbourne on Tuesday.
The government's poor position in recent political polls was not a reflection of
public sentiment toward the tax despite a campaign of misinformation conducted by
mining interests, he said.
"I think there has been a campaign of misinformation from certain segments of the
mining industry," Mr Bowen said.
But the majority of mining companies were taking part in the RSPT consultation
process and the broader business community had given positive feedback supporting
the proposal, he said.
The federal government was willing to fight the upcoming federal election on a range
of issues in the national interest including the RSPT, he said.
"We're willing to fight an election on the national interest," Mr Bowen said.
"That means the RSPT, it means increasing super payments, it means cutting corporate
tax, it means health reform, it means industrial relations. It means a range of
matters."
He said the public would decide what issues were the most pressing to the nation at
the next election.
"I think that when (Opposition Leader) Tony Abbott says he's going to fight the
election on the RSPT, well I think the people will decide what the election gets
fought on," he said.
"I think they will vote on suite of issues ... the RSPT will be one part of (it)."