Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I certainly do; I do stand by what I have said about this matter. The fact is this: the Western Australian Premier has kicked an own goal. He has increased his royalties knowing that they would be withdrawn, knowing that was the case, having mentioned that in correspondence and having had his ministers going around telling journalists that that would be the case—and he did not proceed in the budget before last. But suddenly out of the blue he comes forward last week and increases his royalties and then goes out and pretends that that revenue would not be withdrawn despite having admitted that in correspondence and despite having his ministers travel around telling journalists it would be withdrawn—despite all of that.

This is the Premier of Western Australia who this time last year was claiming that mining companies were being taxed too heavily. And, of course, what does he do this year? He increases the taxation of mining companies and he does it in such a way that it makes it difficult for further investment to take place in infrastructure in Western Australia. So what we have is an own goal from the Western Australian Premier and he is also carrying on about this because he knows his budget figures are bodgy, based on exchange rate assumptions which mean that his budget figures are wrong—not just this year but for the rest of the forward estimates.

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