MRRT raises $126m in first six months

MRRT raises $126m in first six months

Federal Treasurer Wayne Swan has announced the government’s mining tax has raised just $126 million in revenue, in the six months since it was introduced.

The Opposition has been pressuring the government to reveal the numbers, but Mr Swan says he has only been provided with the figure from the Tax Office today.

The Mineral Resource Rent Tax had been forecast to raise $2 billion during the 2012-13 financial year.

But Mr Swan says revenues of mining companies have taken a massive hit from the impact of global financial instability, and a high Australian dollar.

The Greens have slammed the announcement, saying the Gillard government has not delivered on its promise to share the wealth of the mining boom with all Australians.

Greens leader Christine Milne says Labor is continuing to play into the hands of Gina Rinehart, and are failing to make the most of the mining boom.

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Libby Dreyer
Libby Dreyer 1729 posts

Libby has worked as a Senior Journalist at National Radio News since February 2011. She graduated with a Bachelor of Journalism from the University of Canberra in December 2010.

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