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Wednesday, 21 March 2012
Page: 3764

Mining

Mr HOCKEY (North Sydney) (14:45): My question is to the Treasurer. Will the Treasurer confirm that BHP, Rio Tinto and Xstrata will not pay any of the government's new mining tax over the next three years?

Mr SWAN (Lilley—Deputy Prime Minister and Treasurer) (14:46): Mr Speaker, I heard the shadow Treasurer make this statement on television this morning. I am not sure how he can do the work of the tax commissioner or indeed of the Treasury. What I can say is that we have put in place the MRRT. We have worked closely with the industry. In particular, through the Argus process we worked our way through the design of the tax, and we are absolutely satisfied that the revenue streams that we have forecast will be delivered. I do not know on what basis the shadow Treasurer makes that claim; I do not know on what basis he makes it at all.

Mr Simpkins interjecting—

The SPEAKER: Order! The member for Cowan will remove himself from the chamber under the provisions of standing order 94(a).

The member for Cowan then left the chamber.

Mr SWAN: If he has some information he would like to share with the government or with the parliament I would certainly welcome the receipt of it, but for him to claim he could do the job of the tax commissioner in this parliament just demonstrates how he has not got the most basic understanding of the tax system.