House debates

Monday, 1 September 2014

Bills

Minerals Resource Rent Tax Repeal and Other Measures Bill 2014; Second Reading

1:01 pm

Photo of Michael McCormackMichael McCormack (Riverina, National Party, Parliamentary Secretary to the Minister for Finance) Share this | Hansard source

The government intends to offer a more efficient targeted approach to improving education outcomes for students through effective education policies rather than through bonus payments to individuals. If this bill is passed without undue further delay, the removal of this measure will improve the budget position by almost $4.7 billion over the forward estimates.

By abolishing the failed mining tax and by repealing or rephasing the measures related to the mining tax, this bill is a necessary step to putting the budget on a more sustainable footing going forward. Full details of the measures are contained in the explanatory memorandum, and I move that the motion be put.

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