Arthur Sinodinos (NSW, Liberal Party, Assistant Treasurer) Share this | Hansard source

I agree with the implication of Senator Eggleston's question, that you should not spend money you are not going to get or bank money and start to spend it before you have received it. Getting rid of the Minerals Resource Rent Tax will actually improve the budget bottom line by $13.4 billion over the forward estimates on an underlying cash basis. It will be the first tax in Australian history which actually saves money by its abolition. Labor has tried to claim that some of its programs were not linked to the mining tax. In relation to the schoolkids bonus, that is far from true. The now Leader of the Opposition in the Senate linked the schoolkids bonus to the mining tax and said:

I think it's about making sure we use the benefits of the boom wisely. And I think the Government's approach with the mining tax and making sure the benefits of that flow through to families, particularly low and middle income families through the School Kids Bonus, where people get assistance for kids' education costs does that.

Labor also misled— (Time expired)