Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the member for Maranoa for his question. I note that the member for Maranoa often stands in this place and speaks of the infrastructure needs for his part of Queensland. I note that the member for Maranoa has stood in this place recently and demanded extra funding for road construction in his part of Queensland. I note that the member for Maranoa is in repeated correspondence with the minister for infrastructure and local government requesting investment by this government in the infrastructure needs of his community. What the member for Maranoa does not do is stand on his feet with integrity and ask this question of himself and the House: ‘And how should such investment in infrastructure be funded in the future?’ This government has taken measures in terms of its proposal for an RSPT to provide a delivery of infrastructure investment funding for regional Australia. The member for Maranoa is very good at standing up and posturing in this place about the infrastructure needs of his region but on the other hand providing no solutions in terms of delivery of investment back into his region and the source of revenue which should provide the basis for it.

As to the honourable member’s question about Xstrata, I refer to my answer earlier to the question asked of me about the company: firstly, the impact of the proposed RSPT on that company through the refund of the royalties that they would otherwise pay to the Queensland government; secondly, the 40 per cent tax credit which has been recommended as part of the proposal; and, thirdly, their ability to use that across the life of the project particularly in its early loss-making years. That is why, for example, editorials across many parts of the country and the world, including most recently in the Financial Times, have said that this in fact is a rational way in which to tax the resources industry of this country and in fact others abroad.

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