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

Once again I thank the Leader of the Opposition for his question because it goes to the whole challenge of tax reform. I refer also in my answer to the Leader of the Opposition’s question to what I said to the first question he asked in question time today concerning the taxation arrangements for non-renewable resources. I simply reiterate that point.

The Leader of the Opposition also asked about the reception this tax reform proposal has received from various elements of the mining industry. Can I draw the Leader of the Opposition’s attention to what I informed the House of yesterday with those seven separate resource related agreements, which were signed in the presence of myself and the Vice-President of the People’s Republic of China. Agreement No. 8 was a cooperation agreement between Chinese companies and a company called Resourcehouse Limited to establish a US$8 billion China First coal project involving the construction of a mine, the construction of 476 kilometres worth of railway to the port at Abbot Point near Bowen and the construction of a coal-loading terminal. The project is expected to result in approximately A$4 billion in exports and the—

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