Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Hansard source

You should listen to this, Senator Nash. These include projects at St Helens, Geilston Bay, Devonport, the central coast municipality, Triabunna, Glenorchy, Ranelagh and Huonville. These are all projects that would have improved the quality of life for people in these and surrounding communities, created jobs and improved fitness and general welfare. These are projects supported by the local governments in these regions, and it is disappointing that those opposite are continuing to hack away, axing projects without any support.

It is Labor that cares about regional infrastructure. The former Labor government's $6 billion Regional Infrastructure Fund—or RIF—was to invest in nation building projects to build productive economic capacity so that we can sustainably grow of our economy with low inflation in the years to come. The RIF would have meant more investment in rail, roads, ports and other critical economic infrastructure to support the workforce and jobs in regional and mining communities. And it is disgraceful, absolutely disgraceful, that the Nationals will just sit there and not stand up for regional communities. Those opposite have definitely got their priorities wrong. You should be governing in the interests of the Australian people, not friends in big business. It is utterly amazing that, in debating this bill today, they are giving billions of dollars of tax breaks to mining companies while, at the same time, wanting to get rid of tax breaks on superannuation for those earning under $37,000 and getting rid of all support to meet children's education costs. They give billions of dollars of tax breaks for mining companies while at the same time getting rid of tax breaks for small businesses. So much for the party of small business. This tells you something about the priorities of this government. Help those who bankroll the Liberal National Party and ignore the rest. Help your mates in the mining sector and tread on everybody else. Unlike those who are acting in the self-interest of a small minority, we on this side of the chamber believe that a profits based tax on minerals sectors—minerals which belong to the Australian people—is a good reform. It is about ensuring Australians get a fair return for their resources. I do not know why those opposite have such a problem with the minerals resource rent tax as it applies only when miners are making extraordinary and incredible profits.

We know that cycles go through booms and troughs, and this tax applies when things are booming. According to your own financial impact statement in the bill's explanatory memorandum—your numbers, not ours—this bill will give big miners a $3.3 billion dollar tax cut over the forward estimates. Gee, what a budget emergency we must have when you are giving such a big tax break to mining industry! It would seem like your budget emergency is a giant furphy. And to add insult to injury, while cutting the low income super contributions to millions of Australians, including 2.1 million Australian women, the Liberals and Nationals are boosting the super for 16,000 people who have over $2 million in super balances. I am glad to hear public statements that the Palmer senators will not be supporting the cut to the low income super contribution, the LISC.

But I will speak on the LISC for the benefit of other senators in this place. A significant percentage of the women that would have been affected by the abolition of the LISC are mothers working part-time while looking after young children. This is exactly the time in women's careers where an additional $500 a year going into superannuation would be of most benefit for building savings towards their retirement. Industry Super Australia estimates that when combined with the proposed delay in increasing the super guarantee to 12 per cent the removal of the LISC will reduce national savings by $53 billion by 2021-22. And, as everyone listening would know, one of the major investors in Australian infrastructure is superannuation funds.

This thoughtless attack on low-income earners is not only hurting the lowest paid Australian workers; it is also thoughtlessly sabotaging Australia's capacity to build infrastructure into the future. It is typical, I must say, of this heartless, visionless Abbott government. The lack of vision of those opposite is somewhat startling. Once again the surprising inclusion of cuts to the schoolkids bonus is in this bill today. I have spoken to I do not know how many people about this issue, and everyone I have spoken to is opposed to this. Parents, teachers, and those dreaded unions that those on the other side are so hung up about that represent teachers and other school workers, are opposed to this measure.

Generally when you put together a bill, it contains only things that are relevant to the issues at hand. You do not just shove random provisions into the bill. What a sneaky, underhanded trick. The schoolkids bonus is not and should never be seen to be relevant to this bill. Never! It was enacted in the Family Assistance and Other Legislation Amendment (Schoolkids Bonus Budget Measures) Bill 2012 and not in the Minerals Resources Rent Tax Bill 2011. It was never to be funded by the MRRT and linking it in this way is a shameless way to axe it.