Steve Irons (Swan, Liberal Party) Share this | Hansard source

I hear the member for Wannon saying it costs money. The mining tax system costs money. The tax does not raise any revenue and in fact it costs money to administer. It is right there in black and white in the Swan budget on page 2013-4, where it says: 'The government will reduce funding from RIF ... as a result of lower than anticipated revenues from the minerals resource rent tax.' So even the Treasurer admitted there was no revenue, that it was lower than anticipated. I have news for the member for Grayndler: when a tax raises no money you cannot spend the money. It is very hard to spend the money that a tax has not raised.

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