Mining tax needs review to ensure revenue for Australia's future

Australian Greens Leader Bob Brown has called on the government to review the mining tax soon after it begins, with the aim of increasing revenue so that much-needed nation-building reforms such as Gonski's schools funding measures, Denticare, national disability insurance, high-speed rail and a sovereign wealth fund can proceed.

With the Senate set to vote on the mining tax today, Senator Brown has released a letter from the Prime Minister in which the government agrees to new measures to publish more up to date data about what the mining tax will bring in.

"This is a start but we need a stronger review with the aim of increasing the tax take as soon as possible. This will be a priority for the Greens," Senator Brown said.

"$100 billion over ten years has been lost to taxpayers by the government's abandonment of the original mining tax. Tony Abbott's plan for no tax would lose up to $40 billion more.

"Both the government and the opposition have a revenue black hole. Only the Greens are proposing the revenue measures that can fund things such as the Gonski plan, Denticare, a national disability insurance scheme, high-speed rail and a sovereign wealth fund.

"That is why the company tax for large businesses should not be allowed to go ahead. The revenue is needed for social, environmental and economic nation-building projects.

"The mining tax legislation is deeply flawed. For example, the rebating to the mining companies of all future state royalties is a recipe for disaster. This measure alone could destroy the revenue from the mining tax. The Greens will move an amendment to remove this provision from the legislation, and any review should work out how this provision can be fixed if the parliament fails to act today," Senator Brown said.