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

As the Prime Minister indicated before, there is already a process in place going through the federal Treasury and state treasuries to look at the issue of royalties. That was announced following the finance minister's Treasury meeting at the end of last year, but apparently this is another fact that shadow Treasurer is not aware of. The fact is, as I said before, there has been a dramatic impact in terms of commodity prices on the revenue and a somewhat small recovery in the revenue as a consequence of a small recovery in commodity prices.

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