Swan defends resource tax

FEDERAL Treasurer Wayne Swan has come out swinging at mining industry critics of the government’s plan to impose a resource rent tax on the mining sector, saying this morning the tax is “in the nation’s interest”, and the associated infrastructure fund would help the entire industry avoid the capacity constraints seen in the early part of the decade.

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Speaking to the Australian Business Economists meeting this morning in Sydney, Swan reiterated government concerns about the development of a “two-speed economy” in Australia, pointing to experience