Media Release

The Hon Andrew Robb AO MP

Shadow Minister for Finance and Debt Reduction
Federal Member for Goldstein

Monday 16 August 2010

MINING TAX SHORTFALL REVEALED – SWAN’S

SURPLUS EVAPORATES
Wayne Swan must urgently explain revelations that the revised MRRT will not raise the
claimed $10.5 billion in revenue which underpins his dubious future budget surplus.

It is reported today in The Australian that according to Erica Smythe, a member of the
government’s MRRT policy implementation group, the amount that the revised tax will
raise is uncertain.

Ms Smythe said there is “no modelling” and “it’s hard to see it raising $10.5 bn in its
first three years”.

The Coalition understands that the actual figure discussed is closer to $3.3 billion over
three years.

Today in Queensland, a key mining state, Mr Swan must outline what changes he will
make to the Government’s economic programme in light of what could be massive
shortfalls in Labor’s projected mining tax revenue.

In a week when economic management has been brought to the forefront of the
campaign Wayne Swan has a lot of explaining to do.

While Mr Swan talks about threats to his imaginary surpluses, it is today clear that the
greatest threat to any future surpluses is the re-election of the Labor Government
with Wayne Swan as Treasurer.

This is further confirmation that Wayne Swan will never deliver a surplus budget, and
will continue to borrow at more than $100 million per day to fund Labor’s reckless and
wasteful spending.

Media Contact: Cameron Hill 0408 239 521

Authorised and printed by Brian Loughnane for the Liberal Party of Australia Cnr Blackall and Macquarie Sts BARTON ACT 2600
 Media Release

Authorised and printed by Brian Loughnane for the Liberal Party of Australia Cnr Blackall and Macquarie Sts BARTON ACT 2600