House debates Questions without Notice

Mining

Tuesday, 22 November 2011 House of Representatives

Wayne Swan

Wayne Swan Lilley, Australian Labor Party, Treasurer

3:10 pm

I was asked about royalties. The fact is that the review into taxation found that royalties were a very inefficient tax and that what Australia should do is put in place a resource rent tax to encourage the industry to expand and to encourage investment. They found that the application of royalties was particularly bad for those miners—

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