Mining industry spending on lobbying has cost taxpayers at least $157.2 million over the decade, yet they are asking to revoke the tax deductibility status of environmental NGOs, according to a new report by The Australia Institute.
New research by the Australia Institute has revealed the mining industry is dominated by foreign corporate interests that are spending hundreds of millions of dollars influencing our political process.
The report has some interesting figures on foreign corporate influence through the Australian mining lobby and how they spend millions of tax-deductible dollars on political advocacy. The report found:
- Total revenue of mining lobby groups over the last 10 years is $524,150,431, with the Minerals Council of Australia accounting for $203,132,666 of this
- Mining lobby groups are dominated by foreign owned interests, with foreign companies holding 5 out of 10 positions on the Minerals Council board and 7 out of 12 on the Queensland Resources Council board
- Mining industry spending on lobbying has cost taxpayers at least $157.2 million over the decade
- Mining lobby group revenue is increasing over time, and peaked in 2011-12 at $90.4 million, coinciding with the Minerals Resource Rent Tax debate
Ironically, the lobby is still asking for two key policy changes re: environment groups:
- Revoking the tax deductibility status of environmental NGOs
- Banning foreign political donations to third parties, including environment and social groups.
Read and the full report via The Australia Institute's website.