Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

The most up-to-date figures for the MRRT are those released in the mid-year update, which is the MYEFO, where, as we have stated, the revenue to be received under the MRRT has been written down. Obviously the update would have to include all policy decisions taken to the time at which MYEFO was prepared. The senator can rest assured that royalty increases that have been announced have been taken into account in the revised revenue figures, certainly in respect of Queensland. I make this point, however, again: royalties are an inefficient tax. The Henry review made very clear—