Wesfarmers chairman Michael Chaney has criticised a proposal by Western Australian National Party leader Brendon Grylls to increase the state’s iron ore levy. He argues that BHP Billiton and Rio Tinto already make a significant contribution to government revenue from taxes and mining royalties, and the existing arrangement for sharing GST revenue means WA’s income will not rise anyway. He adds that the levy increase would also result in job losses and reduced investment in WA, while Brazil would gain a greater share of iron ore exports at Australia’s expense.
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