Nick Minchin

Tuesday, February 02, 2010

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The Coalition has today lodged a Return to Order, that if agreed by the Senate would require the Government to table the Henry Tax Review by Thursday, to end the speculation and uncertainty it is creating for the resources sector Shadow Minister for Resources and Energy Senator Nick Minchin said.

"Instead of sitting on this report indefinitely and fuelling strategic leaks from it, the Rudd Government should end the speculation and publicly release it to enable an open and informed debate about its contents and recommendations," Senator Minchin said.

"Speculation surrounding the prospect of the Government imposing a massive new rent tax on the mining sector to help pay off its mountain of debt, is completely unhelpful and does nothing to encourage new investment in the sector."

Senator Minchin said the Rudd Government’s promise to introduce a new flow through share scheme (FTS) to encourage new investment in minerals’ exploration was also supposedly referred to the Henry Tax Review for consideration.

"Not only has the Rudd Government failed to honour its election commitment in relation to a FTS scheme, the office of Resources and Energy Minister Martin Ferguson, has reportedly said it does not even know if this issue was even looked at under the Henry Tax Review," he said.

Senator Minchin said the tabling of the Review would provide greater certainty for the resources sector and would allow for a proper debate. It would also put pressure on the Rudd Government to come clean on its plans for the resources sector.

"I would hope the Senate supports the Coalition’s Return to Order which would compel the Rudd Government to table the Henry Tax Review by this Thursday," Senator Minchin said.