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ECONOMICS REFERENCES COMMITTEE—REFERENCE

The Leader of the Australian Greens (Senator Milne) amended business of the Senate notice of motion no. 1 by leave and, pursuant to notice of motion not objected to as a formal motion, moved—That the following matter be referred to the Economics References Committee for inquiry and report by 6 May 2013:

The development and operation of the Minerals Resource Rent Tax (MRRT) in regard to the recently released revenue figures showing a massive shortfall in the revenue compared to government projections, in particular:

 (a) the design of the MRRT and the extent to which the design of the tax as opposed to other factors such as commodity prices are responsible for the mismatch between actual revenue and revenue projections;

 (b) the process by which the MRRT was designed, including the extent of the involvement of the Department of the Treasury and mining corporations who would be paying the tax;

 (c) the extent to which, if at all, the Government took into account the views of communities affected or potentially affected by iron ore and coal mining when designing the tax;


 (d) implications for the budget; and

 (e) any other related matter.

Question put and passed.