George Christensen (Dawson, National Party) Share this | Link to this | Hansard source

My question is to the Treasurer. In a recent policy submission the Energy Supply Association of Australia warned that the government’s mining tax on coal will flow through to higher prices for electricity. Why is the Treasurer proposing a tax that will make the everyday lives of Australians harder?

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

First of all, I do not accept that for one second—

Jenny Macklin (Jagajaga, Australian Labor Party, Minister for Families, Housing, Community Services and Indigenous Affairs) Share this | Link to this | Hansard source

Certainly not from him.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

and certainly not from the member for Dawson. We are now in this extraordinary position where all of those in the opposition, the Liberal and National parties, believe this fundamental proposition that the mining industry pays too much tax. Can anyone believe that? That is what they believe on that side of the House: the mining industry pays too much tax. We have the terms of trade at 140-year highs and there are record prices for iron ore and coal. It is only fair that, in those circumstances, where the price for these commodities is going to be higher historically, the Australian people receive fair value for the resources they own 100 per cent.

Who would oppose that proposition? The Liberal and National parties. We on this side of the House are determined to see that the Australians who own those resources 100 per cent—and these resources can only be dug up once—get some fair value for them. That is why we are putting in place our rent tax, which, extraordinarily, is opposed by the Liberal and National parties. It is actually supported by large sections of the mining industry, but opposed only in total by the Liberal and National parties in this House—demonstrating yet again just how out of control, how bizarre and how weird they have become in their approach to public policy. How could you oppose the Australian people, when prices are at 140-year highs, actually getting a fair return?

Opposition Members:

Opposition members interjecting—

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

The Liberal and National parties can, just as they are opposing the abolition of unfair mortgage exit fees, which are locking Australian mortgage holders into loans with banks they do not want to be with. How irrational could you be? And the list goes on and on: opposing the NBN—

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Treasurer will relate his remarks to the question.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

But we on this side of the House—

Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

Mr Speaker, I rise on a point of order, on relevance.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

If there had not been as much interjection, the member for North Sydney would have heard that I had asked the Treasurer to return to the question.

Opposition Members:

Opposition members interjecting—

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! Just as it is very difficult for people to understand what is actually happening because they are talking and not listening, the Treasurer now, I think, has the message and the Treasurer will continue to respond directly to the question.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

It is well documented that the biggest factor influencing electricity prices at the moment is transmission network charges and distribution—well documented. But those on that side of the House are so embarrassed by their opposition to the MRRT and the benefits it will bring to their electorates—

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Treasurer will return to the question.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

that they have to get to this completely irrational position.

George Christensen (Dawson, National Party) Share this | Link to this | Hansard source

Mr Speaker, I seek leave to table a paper by the Energy Supply Association of Australia.

Leave not granted.