Mining tax featherbeds mining giants and puts future prosperity at risk: Brown

Australian Greens Leader Bob Brown said today he will strive to improve the government's proposed mining tax in the coming months.

"By rejecting the Treasury-proposed Resource Super Profits Tax, Mining Minister Martin Ferguson has delivered $100 billion for the big mining companies at the expense of the long-term needs of Australia over the next decade," Senator Brown said in Hobart.

"The budget's corporate tax cut for big business should be shelved, helping to return the federal budget to surplus, and Dr Henry's tax should be adopted."

"Australians deserve a fair return on their resources wealth that can be saved in a sovereign wealth fund to provide future income for funding projects including high-speed rail, national dental health care and access to high-quality tertiary education."

"It is an opportunity lost amid petty cuts to cultural institutions such as the National Gallery, a broader attack on the public service, and a lack of funding for public transport. The Greens welcome the company tax cut for small business owners, but reject the tax break the government plans to hand out to the big mining companies and banks," Senator Brown said.