Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Hansard source

There are two responses to that. Firstly, the new resource taxation regime will see investment increase in the mining industry, it will see resource sector employment grow by about seven per cent and it will see resource sector output grow by 5.5 per cent. So the mining industry will continue to be strong and vibrant and its prospects are very good. In terms of superannuation, what this government proposes to do as part of the benefits from the Resource Super Profits Tax is to actually increase the superannuation guarantee from nine per cent to 12 per cent to support Australians in a proper retirement, to provide the income that they need to enjoy their retirement. It was a Labor initiative originally, and it is now a Labor proposal to build on that initiative to provide for the superannuation needs of Australians. It is about making sure there is a fair sharing of the resources boom, and part of that should be directed to improving Australian superannuation. (Time expired)