Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

Thank you, Mr Speaker, for you guidance and support. In the first part of my answer I referred to that element of the question and I dealt with the application of this tax reform to non-renewable resources. This part of my answer goes to the assertion in the question from the Leader of the Opposition concerning the impact of this tax reform proposal on mining companies. I was using an example of an agreement signed yesterday in the presence of myself and the Chinese Vice-President between Chinese companies and a company called Resourcehouse Limited for US$8 billion. Who owns Resourcehouse Limited? Clive Palmer owns Resource House Limited. There we have it—Clive Palmer, at maximum, representing the same principle, at minimum, we have had from the member for Dickson. When it comes to this impact of tax reform, the member for Dickson goes out and buys some shares and earns a tidy 100 on the way through. Clive says he is prepared to put an $8 billion project on the line and have it signed yesterday, notwithstanding the impact of this proposed tax reform. When it comes to those opposite, we watch what they do, not what they say.

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