Cross-bench joins Greens to plug hole in mining tax

Greens Leader, Christine Milne, and Deputy Leader, Adam Bandt, have welcomed the support of lower house cross-benchers for a Greens bill to plug the royalties hole in the MRRT.

Following Senator Milne's introduction of the Minerals Resource Rent Tax (Protecting Revenue) Bill 2012 into the Senate, Mr Bandt today gave notice he will introduce the bill into the house.

The bill will ensure the Commonwealth loses no revenue when State governments raise royalties and will generate $2.2bn in revenue over the next 3 years.

Country independent Rob Oakeshott will second the Greens' bill and Tony Windsor said he will back the bill.

"The Greens want to secure this country's revenue base and that means a proper mining tax," said Senator Milne.

"Unless we address this growing threat to revenue, we won't be able to fund the services Australians expect."

"Plugging the holes in the mining tax would go some way towards funding the Gonski plan for schools and the NDIS, funding for which the government has pushed into the never never."

"By caving in on the mining tax, the government has given the keys to the Commonwealth coffers to the states," said Mr Bandt.

"I am very please that my cross-bench colleagues have thrown their weight behind the Greens' bill. Given the support in the House, the government now has no excuse not to accept the Greens' proposal and fix this revenue hole."

"It would also mean we university research funding, single parent payments or lifting Newstart above the poverty line would not have to fall victim to the government surplus fetish."

 27 November 2012