Prime Minister Julia Gillard's back flip on the super resources mining tax is an effective public relations strategy.
As predicted in this blog weeks ago, there was a 90 per cent chance this tax wasn't going to go ahead because it was a very bad public relations campaign and changed Australian politics in the most dramatic way.
Effective public relations use is a fine art.
In this case investor relations is the winner because share prices have increased and hundreds of millions of dollars worth of stalled investments will be going ahead.
This will bring much joy to investor relations professionals who seek to find a "fair price" for their stock in the investor relations balancing act.
Investor relations professionals with Rio Tinto, Xstrata and BHP Billiton will be delighted as the new policy cuts the headline rate of the tax from 40 per cent to 30 per cent and includes a raft other measures to placate mining bosses.
In a master public relations tactic it has been rebranded as the Minerals Resources Rent Tax.
New name and new message will help in public relations writing and the sell to the Australian public.
It doesn't matter the new tax will only apply to iron ore and coal because this is a public relations strategy winner as the general public don't care about detail.
They're just interested in their investments in the share price and their super portfolio. Again more joy that will add gloss to investor relations strategies for the mining sector.
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