The battle of frogs and mice
On 1 July 2012 the Carbon and Mineral Resources Rent taxes came into effect and the federal government shifted its attention to household assistance payments to ensure that increased electricity bills could be paid. Focusing on the ‘Whyalla Wipeout’ some politicians turned to signature tunes and lyrics for inspiration but few were impressed with Trade Minister Craig Emerson’s attempt at standup comedy. In a move which heightened class tension Treasurer Wayne Swan increased his harrying of mining magnates Gina Rinehart, Clive Palmer and Andrew Forrest but they continued to buy shares, stand for election and mount High Court challenges respectively. On 23 August when Resources Minister Martin Ferguson remarked that the resources boom was over the stock market fell and resource companies found another reason to shelve expansion plans and close mines.