BHP Billiton
(ASX:BHP) has used the release of a better than expected December-half profit of $6.5 billion to caution the Rudd government against introducing a national resources rent tax.
BHP chief executive Marius Kloppers delivered the warning in Sydney yesterday as he revealed the group's profit slipped 7 per cent for the six months to December 31.
The possibility of a resources rent tax on minerals, to replace state-based royalties, is believed to be a key recommendation in the Henry review of the nation's tax system.
Mr Kloppers said that long term fiscal stability is very important to the mining industry and that it should not change or be tinkered with as it’s helping Australia out of the economic downturn.
BHP Billiton’s 2009 net profit was $7.2 billion.
