[/caption]Australia has its first female Prime Minister in Julia Gillard; the new Prime Minister is a lawyer by vocation and a former deputy to her successor, Kevin Rudd, who lost his leadership due to his proposal of a whopping 40% tax on the Australian mining industry.
The influential Australian mining industry was so upset with the proposed, that not only did Rudd lose the Prime Minister position, but the SanFrancisco Chronicle is reporting that the Fortescue Metals Group LTD shelved a $21billion expansion. The mining industry is rather happy with the ouster of Rudd and is certain that the new Prime Minister will renegotiate the mining tax for far less than Rudd’s proposal. As a consequence of the election of Prime Minister Gillard, the mining stocks rose and rallied on the Australia stock exchange.
Because Prime Minister Gillard took office in midstream, she will have to represent the Labor Party in the coming elections - she is popular now, but no one knows how her standing with the Aussies will be during the coming elections. It is believed that Australia’s obligations, under the new Prime Minister Gillard, like supplying troops for the war effort in Afghanistan, will remain status quo.
The Labor Party in Australia is conservative in its politics, so support and continued contribution of troops to the war effort will cause no angst for the incoming Prime Minister. Incidentally, the only critique leveled against Prime Minister Gillard is that, at thirty-eight, she has no children. Her critics say this fact makes Prime Minister Gillard unable to sympathize with mothers - go figure.
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