Ian Macfarlane (Groom, Liberal Party, Shadow Minister for Infrastructure and Water) Share this | Hansard source

My question is to the Prime Minister. I refer the Prime Minister to the comments of Mick Davis, the Chief Executive Officer of Xstrata, who said in reference to his Australian operations:

We have generated total revenues of $44 billion. We have paid expenses of $22 billion, incurred taxes of $5 billion and invested $18 billion over that time. This has required us—

Xstrata—

to inject a further net $1 billion into Australia from cash generated in other regions.

In other words, there has been no leakage of profits from Australia—rather the other way round …

Given that the Prime Minister has said that profits from mining have disappeared ‘out the back door and overseas’, does he have the courage to admit that he is wrong, or is he suggesting that Mr Davis is not telling the truth?

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