Wayne Swan and the Great Big New Mining Tax

In Toronto, talking to the heads of the G20, Wayne Swan said: "This tax that we're putting forward has got nothing to do with our budget at all..."


Hello?

Wayne Swan said: "This tax that we're putting forward has got nothing to do with our budget at all..."

I thought that's what he said. He continued... he told a business lunch that the tax was not proposed as a way to bring the budget back to surplus.


Tony Abbott countered this with:

" Now, it’s interesting Wayne Swan said that the mining tax had nothing to do with the return to surplus. In the year we get a $1 billion surplus, there's $3 billion of mining tax revenue. In the year we allegedly get a $5 billion surplus, there’s $9 billion of mining tax revenue. So, you take that revenue out and we’ve got a $2 billion deficit in the first year and we’ve got a $4 billion deficit in the second year and presumably even bigger deficits in the out years."

Despite this, Ms Gillard and Mr Swan say that the budget can return to surplus with or without the Resources Super Profits Tax(RSPT). The other important point Swan made is that Gillard's recommitment to a government surplus by 2013 was not predicated on the revenues expected to be generated by the super-tax.

"The mining tax is not essential to the budget to return to surplus. The budget is going to return to surplus in three years' time, three years early, and it is not dependent upon revenue from the mining tax."

So, if there is a change to the RSPT, will we have a new budget before the next election?

Also, as MS Gillard has confirmed her commitment to a Carbon Tax, should we have the Carbon Tax figures in the budget?

http://www.abc.net.au/news/stories/2010/06/27/2938172.htm?section=j...
http://www.liberal.org.au/Latest-News/2010/06/25/Tony-Abbott-interv...

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