Julia Gillard (Lalor, Australian Labor Party, Prime Minister) Share this | Hansard source

I refer to my answers earlier this week on this question. I do believe that Australians are entitled to a share of the mineral wealth within their grounds. I do believe that businesses, at the peak of the profitability cycle, should pay a tax: the minerals resource rent tax. I worked hard with Australia's biggest miners to make sure that we had an agreement and got this done. It is, unashamedly, a profits based tax. We have seen volatility in commodity prices, we have seen a strong Australian dollar, and that has had implications for revenues. But, as the Treasurer has said to this House repeatedly across this week, when you design an arrangement like the minerals resource rent tax you are designing a revenue stream that matters to the nation not just now but into the future. It will matter to the nation's children and grandchildren.

I have to say that I am a little bit surprised that the Leader of the Opposition would today, of all days, decide to ask a question on tax, because the Leader of the Opposition has been out doing media interviews today, and it is no surprise that they have retired him from breakfast television because he just cannot hold up under questioning. The Leader of the Opposition has said today that the right amount of company tax is the current rate. What that means is one of three things: he has walked away from his paid parental scheme—

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