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Mining tax secrecy must stop

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Media Release Senator Mathias Cormann Shadow Assistant Treasurer Shadow Minister for Financial Services and Superannuation

29/0113/MC 29 January 2013


The Coalition welcomes indications that the Greens plan to support our Senate motion to force the Tax Commissioner to reveal how much or how little the MRRT has raised so far.

It is manifestly in the public interest for everyone to know how much or how little the mining tax has raised so far.

Wayne Swan has made a complete mess of the MRRT.

His suggestion now that any information about how much or how little it has raised must be kept secret is completely ridiculous and lacks any credibility.

The MRRT is a bad tax which has recklessly and unnecessarily undermined confidence in Australia as an investment destination.

It is more complex, more distorting and less efficient than previous arrangements, more costly to administer, more costly to comply with and the revenue it generates is highly unpredictable.

Labor wants people to accept that they can come up with this complex contentious new tax, make predictions and promises in budget after budget about how much it will raise, spend all the money they think it will raise and more and then more than six months after it came into effect tell us that information about whether it has or whether it hasn't raised what they thought is secret.

That's just completely unacceptable and we are pleased to see that the Greens appear to agree with us on that.

Wayne Swan should cut his losses and scrap his complex and failed MRRT.

If he won't a future Coalition government will.

But in the meantime people deserve to know how much or how little it has raised.

MEDIA CONTACT: Senator Cormann 0411 874 546