Gillard to stop mining tax ads
New Prime Minister Julia Gillard has promised to cancel the government's $38 million counter-campaign against the mining sector's anti-tax ads in return for co-operation in negotiations from the industry.
She requested for the mining sector to stop their advertisements in turn as a sign of "good faith."
Ms Gillard said Australians have a right to the earnings from the mining sector but more discussion was needed with the industry.
In her first press conference as Labor leader, Ms Gillard pledged that her government will be open to the industry for consultation, if the mining sector unbars its "mind" to the visions of the government.
The dollar went up to $US0.8759 shortly after, from $US0.8744.
Kevin Rudd passed the leadership of the Australian Labor Party to Ms Gillard at a party room meeting in Canberra this morning. His resignation followed a series of political missteps that culminated in the planned tax on the mining industry's super profits announced in May.
The RSPT angered the mining sector and urged a strong political campaign against the Rudd government affecting Labor's standing in the polls ahead of an election.
Labor in May authorized the $38 million advertising campaign promoting its proposed 40 per cent tax on mining super profits. It followed the industry's own rollout of anti-tax advertisements.
"To reach a consensus we need to do more than consult, we need to negotiate ... we need to end this uncertainty," Ms Gillard said in Canberra.
"Today, I am throwing open the government's door to the mining industry and in return I ask the mining industry to open its mind."