China has just imposed 17% on rare earth elements exports
which is in compliance with the WTO regulations.
Now that Mr Hockey has repealed the MRRT which saves
the big miners up to $40 billion a year, yet he perpetually complains
about his loss of income due to Iron Ore prices.
Surely the obvious solution is to do like China and
impose the GST on Iron Ore exports. At present IO
exports are GST free.
We handed Hockey the steering wheel and now he is complaining
that he does not know where to go.
