Friday, 2 July 2010

Too risky to play all or nothing

For the big three mining companies — BHP Billiton, Rio Tinto and Xtrata the time for a strategic retreat coincided with Labor’s need for a settlement.
Naturally they would prefer not to pay more in taxation than they do now. But they were also aware of the risks involved in campaigning strongly against the Government and their efforts failing with Labor being returned.
They did not want to play all or nothing and have now reduced the game to one of paying something if Labor wins the election and nothing if the Coalition does.
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