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Mining tax failure means time to remove fossil fuel subsidies

With the failure of the mining tax and the government's refusal to fix it, it is time to remove the $2 billion a year diesel fuel rebate for mining companies to help tackle both global warming and Australia's revenue crisis.

Market Forces have confirmed our figures with an additional study, finding that $10 billion is paid in fossil fuel subsidies by the federal government. They have released a poll showing 65% of respondents disapprove of the $2 billion subsidy on diesel fuel for wealthy mining companies, with the strongest opposition - 72%, in Queensland, a heavy mining state. This confirms our understanding that Australians do not want our tax dollars handed over to wealthy mining companies.

"This poll result shows that Queenslanders are sick of seeing mining industry prioritised and subsidised over the Reef, small businesses and health services." Greens environment spokesperson Senator Larissa Waters said.

"A simple decision by the Government could bring in $2 billion a year for the government to invest in the education, healthcare and infrastructure that this country needs, while also helping to tackle global warming," Australian Greens Leader Senator Christine Milne said.

"The Gillard Government went to water over a $20 million campaign by the mining giants, costing the Australian people some $26 billion over the next four years alone.

"If the Government won't work with us to plug the royalties loopholes in the tax and fix it up, the least they can do is remove the other huge tax loophole that means that, while ordinary Australians pay tax on every litre of fuel they buy, the massively profitable mining corporations pay virtually nothing.

"Subsidising fossil fuel extraction is not only making climate change worse but also handing money from people under pressure to massively profitable mining giants."

"It is bad economic management, grossly inequitable, and dangerously ignores the global warming challenge we and our children must face."

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