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It’s time to revisit our resources rent taxes because 2017 looms as a difficult year

‘The Lucky Country faces difficult year ahead’ writes Ian Verrender (ABC, 5.12.16):

‘Two consecutive quarters of contraction equals recession.

‘While few economists are forecasting a December quarter disaster to take it to two in a row, it’s pretty clear that 2017 looms as a difficult year for the Lucky Country.

‘The sudden decline in fortunes follows a savage drop in business investment during the September quarter on top of surprisingly weak dwelling construction data.

‘Given the mining boom has some way to run and the housing boom is at or near its peak, that doesn’t augur well for the future. And that potentially puts the Treasurer in a bind.’

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