From the SMH:
The mining tax will add just $800 million to government coffers in the current financial year, the independent Parliamentary Budget Office (PBO) calculates.
That’s less than half of the government’s prediction in its mid-year budget update in October.
Over the forward estimates to 2016-17, the PBO estimates the Minerals Resource Rent Tax (MRRT) will raise just $7.2 billion – almost $5 billion less than government expectations.
The Australian Greens are using the new figures to renew their push for the mining tax to be expanded.
‘‘It’s hard to believe that the government has been through all this pain with the mining tax and when push comes to shove so little is being raised,’’ leader Christine Milne told ABC radio this morning. ‘‘If we are to get serious about implementing Denticare, if we are serious about providing adequate funding for our public schools and hospitals, then we need to raise the money.’’
But it wasn’t this government that took the pain. It was the last government. It is an interesting notion, though. If the Gillard government now turned around and pushed to plug the MRRT holes, what harm could it possible do to their election prospects?
Even better, repair the tax, then put Rudd back in!
