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

As the Argus-Ferguson process recommended and as the GST distribution panel recommended, we have been working with the states to see if we can get a resolution to this issue. I would have thought that that is a very clear answer to the shadow Treasurer. But what is he really on about here? He is upset that there is a resource rent tax in the first place, and $1 of tax raised through resource rent taxes is an affront to everybody on that side of the House. We on this side of the House have a fundamental belief that the Australian people should be getting a share in the superprofits that are made from the resources that we own 100 per cent. That is why we have been a supporter of the MRRT and that is why we have been a supporter of the PRRT, which has raised something like $28 billion in the time that it has been in operation. And it was opposed by those opposite. (Time expired)

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