Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

My question is to the Prime Minister. I refer the Prime Minister to a report by one of the world’s largest investment advisers, Citigroup, and I quote:

The mining industry has one of the lowest dividend yields amongst the Australian industries. Over the last 10 years, mining companies have reinvested around 75 per cent of their cash generation back in country through royalties, taxes or capital investment. Miners reinvest in growth, creating jobs and wealth creation for a country. We believe the proposed resources super profits tax will likely limit their abilities to reinvest.

On what basis does the Prime Minister still believe that this big new tax on mining will create more jobs and more investment?

See this speech in context