Iron ore price surge delivers Labor an $18b tax windfall
Michael ReadEconomics correspondent
Updated
A multi-month surge in iron ore prices is poised to deliver Treasurer Jim Chalmers as much as $18 billion in extra tax revenue, bolstering the prospect of a second surplus and funding another round of subsidies for voters.
Iron ore has rallied to $US145 per tonne, its highest price since April 2022, as optimism builds that China’s economic recovery is gaining momentum thanks to a combination of monetary and fiscal stimulus.
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