Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

We have had a number of discussions about royalties, and I have made clear in terms of the midyear update that the design of the MRRT has been reflected in the estimates for that revenue line item. I have also made clear that the announced royalty changes by the Queensland government have been taken into account in the updated MRRT estimate and that the decision by the New South Wales government to increase royalties has not been included because specific policy details are yet to be announced. If there is any further information I can provide the senator with, I will do so, but he is on the side of advocating—I think from what he is asking me—for royalties as a good tax but not a profits based tax which was a bad tax.