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Tuesday, 20 March 2012
Page: 3489

Mining

Ms O'NEILL (Robertson) (14:12): My question is to the Prime Minister. By getting the mining tax done, how is the government managing the economy in the interests of working people and spreading the benefits of the boom to the many and not just the few?

Ms GILLARD (Lalor—Prime Minister) (14:12): I thank the member for Robertson for her question. I know that in her part of the world she is concerned about how people will seize economic opportunities in the future. She has an electorate which is home to many small businesses—many businesses that want to see a company tax reduction and many small businesses that want to see a benefit so that they can better get on with the job of providing for their families and giving jobs to other Australians. So it is good news for the member for Robertson and it is good news for the Australian nation that last night the parliament passed the minerals resource rent tax.

It is good news for the 2.7 million small businesses that will get a tax benefit. It is good news for all businesses around the nation who will see a company tax reduction. It is good news for everyone who cares about economic growth and jobs because if you reduce company tax you increase economic growth, and that means that there will be more jobs. It is good news for more than eight million working Australians who will be able to look forward to more superannuation and a better retirement as a result. It is good news for our national economy that our pool of national savings will grow. And it is good news for mining regions—which are experiencing both the benefits and sometimes the burdens that can come with rapid growth—that there will be new funds available to invest in the infrastructure that mining communities need: the roads, the rail and the ports that help to feed the mining boom. On this side of the parliament we are proud that we have worked long and hard to ensure that we have these economic settings for the future of our country and that during this time of resources wealth we are sharing that wealth with the many around the nation—not the few. Ultimately, these big pieces of public policy speak of your values and who you stand for. We on this side of the parliament are clear: we stand for sharing the benefits of the resources boom with the Australian people. On that side of the parliament they stand for the privileged few like Clive Palmer and Gina Rinehart. On this side of the parliament we stand with Australian businesses, providing them with a company tax cut. On that side of the parliament they stand for increased company taxation, making it harder for Australian businesses to make their way and to employ their fellow Australians. On this side of the parliament we stand for shaping and embracing the future. On that side of the parliament they stand for pretending that you can stand still and wish the future away. We stand for jobs and prosperity; they stand in the way. (Time expired)