Senate debates

Wednesday, 10 May 2023

Questions without Notice

Mining Industry

2:34 pm

Photo of Katy GallagherKaty Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I don't have the exact figures at my fingertips, but it is a significant contributor, through company tax and through other taxation arrangements; I don't think anyone is pretending otherwise. In terms of the revenue upgrades that we've seen, and the very welcome revenue upgrades that we've seen to the budget, of which 87 per cent across the last two budgets has been returned for budget repair—of that, about 20 per cent is related to the strong prices that we're getting for commodities. I would say that the other parts, where there is significant contribution to the upward revision in revenue, are because of the strong labour market, the low unemployment rate and the fact that more people are in jobs, which is fantastic, and because we're seeing for the first time in a decade the beginnings of some solid wages growth. We've overturned a policy that the former government had of wage stagnation—determined and deliberate wage stagnation—and we are seeing for the first time good, sustainable wages growth, which is good for working people in this country. We expect—


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