Greens seek Treasury advice on multi-billion dollar mining tax loss

Australian Greens Leader Bob Brown has written to Treasury secretary Ken Henry asking how much tax will be peeled off by the miners in the Gillard deal announced yesterday (letter available).

"After a one billion dollar gain in 2012-13, this deal shaves 2.5 billion off government income in 2013-14, and presumably, even more in subsequent years. So, 25 billion at least will be lost to the public purse per decade", Senator Brown said in Townsville this morning.

"The Greens will ensure that the cost to the public purse of the Gillard background is tracked down in next year's Senate inquiry. However, the public has the right to know before the election, not after."

"Billions will now be unavailable for health and education. That is not counting small business having to pay an extra one percent tax to help cover the mining barons' Gillard windfall," Senator Brown said.

The Greens continue to argue for a substantial part of the tax revenue to go into a sovereign fund to help secure Australia's future and such long-term projects as high speed rail, linking our capital cities.

Senator Brown is available for comment in Townsville this morning before heading to Mackay tomorrow.

Media contact: Peter Stahel 0459 133 597