Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I can report to the Senate that there have been very significant price increases of some of our biggest-earning resources—very, very significant in recent years. Let me give you a couple of examples: iron ore prices have risen some 500 per cent since 2004; the price of coal has increased by between 300 and 400 per cent. These are resources owned by the Australian people and it is only fair, when there is a significant increase in prices and super profits flow as a consequence, that the Australian people should see a share of the additional profits that were only dreamed of five or 10 years ago. It is only fair that the owner of those resources—the Australian people—should obtain some benefit through a tax change on these resources. (Time expired)