Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Hansard source

I thank the senator for his question. This government is absolutely determined to ensure that all Australians will see a long-term benefit from the current resources boom. We believe that every Australian should benefit from the mineral resources which we all own. That is why the Gillard government will make the necessary investments today to ensure we deliver long-term benefits which will support our future economic prosperity. We believe all Australians, not just a select few, should share in the prosperity which flows from the growth in our mining sector.

We know that those living in resource-rich states like my own were left questioning the legacy delivered as a result of the last resources boom. This government is absolutely determined to deliver a substantial legacy this time around. By making critical investments in superannuation, small business tax cuts and company tax reform, both businesses and employees will see tangible benefits. The Gillard government reform agenda will include tax cuts for 2.7 million small businesses and an increase in the retirement savings for each one of our 8.4 million working Australians—bigger retirement savings for working Australians. An increase in the super guarantee from nine to 12 per cent means that a 30-year-old worker on average earnings will retire with an extra $108,000 in superannuation savings—real benefits from the mining resources boom. Those concessions for low-income workers will also be implemented.

We are investing in regional infrastructure, trying to make sure that the communities supporting the boom have their infrastructure improved and upgraded. So all of these things are about investing in the future prosperity of our nation and making sure that all Australians, businesses and employers benefit from the mining boom, that the wealth generated from our resources is shared among the whole population, that we all benefit from that boom.