❓ Question on the WA government's view of the proposed Minerals Resource Rent Tax (MRRT) and its impact on the WA resources industry, particularly smaller miners and magnetite iron ore producers, given the Commonwealth's refusal to release economic modelling. The Premier's answer does not address the question directly, instead focusing on criticising the Labor Party's position on various issues.
AnsweredQoN 799Legislative Assembly
QuestionView source ↗
MINERALS RESOURCE RENT TAX — COMMONWEALTH GOVERNMENT’S ECONOMIC MODELLING
Given the commonwealth government’s refusal to release economic modelling of its proposed minerals resource rent tax, will the Premier please outline how the state government sees the tax impacting on the Western Australian resources industry, and in particular the effect on smaller miners and magnetite iron ore producers? Mr C.J. BARNETT
Given the commonwealth government’s refusal to release economic modelling of its proposed minerals resource rent tax, will the Premier please outline how the state government sees the tax impacting on the Western Australian resources industry, and in particular the effect on smaller miners and magnetite iron ore producers? Mr C.J. BARNETT
AnswerView source ↗
I thank the member for Kalgoorlie for the question. Obviously, for the electorate that he represents, any change that affects mining is of great importance. Several members interjected. The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT replied: I thank the member for Kalgoorlie for the question. Obviously, for the electorate that he represents, any change that affects mining is of great importance. Several members interjected. The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
I thank the member for Kalgoorlie for the question. Obviously, for the electorate that he represents, any change that affects mining is of great importance. Several members interjected. The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT replied: I thank the member for Kalgoorlie for the question. Obviously, for the electorate that he represents, any change that affects mining is of great importance. Several members interjected. The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
I thank the member for Kalgoorlie for the question. Obviously, for the electorate that he represents, any change that affects mining is of great importance. Several members interjected. The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Collie–Preston, this is your third formal warning today. Minister for Regional Development, this is your first. Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : As I was saying, obviously mining is of great interest and importance to the electorate of Kalgoorlie and, indeed, most regional electorates in Western Australia. The government has tried very hard this week to determine what is the position of the Labor Party in Western Australia on a number of key issues. Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr M.P. Murray : What about your position on the south west? What about your position on Collie? The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Collie–Preston, you have been in this place long enough to know how this place works. I am going to suggest to you that if you wish to ask a question of the Premier, get to your feet and seek the call and I will give you the call. Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : As a government, we have tried to determine the position of the Labor Party on the two important issues of protecting the community in relation to prostitution and the sex offenders’ register. We have not been able to determine what is the position of the Labor Party. Earlier this week — Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Willagee, I formally call you to order for the first time today. When someone asks a question, it is then not an opportunity for everyone to pile in as though it is a rugby scrum. Member for Collie–Preston and Minister for Regional Development, if you wish to discuss the issue you were discussing before, I suggest to both of you that you walk out the door and do that. Other questions are being asked in this place at the moment and I am not interested in trying to listen to a person answering the question with you two talking in the background. Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : On those issues of prostitution and the sex offenders’ register, the Labor Party clearly failed to stand on the side of protecting the community and it is clear that there are differing views. Earlier in the week — Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Members! Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Earlier in the week, we also tried to determine the position of the Labor Party in Western Australia on the Gillard government’s carbon tax. Five members, to their credit, indicated they supported it; the other members looked down at their navels. Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Rockingham! Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Therefore, we do not know their position on those three issues. We are persisting, so let us try a fourth issue to determine the Labor Party’s position on the proposed minerals resource rent tax. This side of the house does not support the proposed minerals resource rent tax. We have a clear position, no equivocation; we do not support it. Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Sorry, I missed that. We do not support the minerals resource rent tax. Indeed, if the federal government genuinely believes — Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Forrestfield, I formally call you to order for the first time today. Leader of the Opposition, I formally call you to order for the first time today. If you have nothing to contribute, I suggest you sit and remain quiet. I do not need to be standing on my feet every other minute. Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : The minerals resource rent tax proposal is flawed in almost every respect. It is without doubt the most inept policy and legislative position that I can certainly think of in the past 20 years. I want to know the Labor Party’s view. The minerals resource rent tax — Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr E.S. Ripper interjected. The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Leader of the Opposition, I formally call you to order for the second time today. The advice I provide you is the advice I provide to everybody in this place who wants to ask a question; that is, if you get to your feet, I will give you the call. Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : The minerals resource rent tax is by definition discriminatory; it applies to coal and iron ore. Therefore, it is little wonder that the uranium, gold and other sectors have a fear that it will apply to them. It is also discriminatory in the sense that it is a tax on Western Australia; 65 per cent of the revenue to be raised will be from Western Australia. It is also discriminatory in the sense that, remember, this tax was negotiated — Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Leader of the Opposition! Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : This tax was negotiated with the world’s three biggest miners. They will put their commercial interests first and foremost—why would they not? Therefore, it is more difficult for emerging and new companies. It also has proven a serious problem for companies raising finance — Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Wanneroo, I formally call you to order for the first time today. I formally call the Leader of the Opposition to order for the third time today. Member for Nollamara, I formally call you to order for the first time today. Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Already, mid-cap companies in Western Australia have lost their financial backers over this. They may find other backers—I hope they do—and that is what they are working on. Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Members! Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Cannington, I formally call you to order for the first time today. Member for Willagee, I formally call you to order for the second time today. Premier, I formally call you to order for the first time today. Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : To take one particular project: the CITIC Pacific project, which is midway through construction, had the tax regime changed in the middle of that $6 billion investment project. If ever there was a case of sovereign risk, that clearly is it. That meets every aspect of the definition of sovereign risk. That is why that term for the first time is being used in the context of the Australian mining industry. Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Several members interjected. The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
The SPEAKER : Member for Willagee, I formally call you to order for the third time today. Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Beyond all the ineptitude, inequalities and the discriminatory and flawed structure of this tax, the federal Labor government has in a sense targeted it at what it thinks are the wealthy sections of the mining industry. However, it has included iron ore, presumably not knowing the difference between hematite, which is roughly 60 per cent grade iron ore, and magnetite, 25 to 30 per cent grade iron ore. It has simply included iron ore — Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr E.S. Ripper : Of course they know the difference! Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : I do not think that the federal government does because it has just put it on iron ore. Magnetite iron ore is a low-grade resource. There is a lot of it in the electorates of the members for Kalgoorlie and Pilbara, and of course in your electorate, Mr Speaker. Low-grade iron ore takes a high amount of energy and processing; it is not some El Dorado as perhaps some of the early mines of the Pilbara were. The minerals resource rent tax will apply to that. It is true that some of those magnetite industries, probably most of them, will not pay this tax initially, but they will have to go to extraordinary administrative lengths and virtually run parallel sets of accounts—it is totally intrusive into their corporate and business operations—to ensure that they are not liable for the tax. That is their problem and that is why they are struggling with investment now. At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
At a very minimum, this side of the house opposes the MRRT. I do not think that Labor Party members—we are now on the fourth issue of the week—have any idea whether they support or oppose it. I imagine the instructions come from Canberra, “By the way, you little fellas in Western Australia, you’re part of our structure; you’ve got to support it.” I am sure that Labor members have been instructed to support the MRRT. At a very minimum, the magnetite industry should be excluded from the MRRT—at a very minimum. That is not in any way condoning the tax. Does the Labor Party support even that? Does the Labor Party support excluding the magnetite industry? Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr E.S. Ripper : I’m on the record; read your transcripts! Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
Mr C.J. BARNETT : Members opposite do not say a thing! The opposition is the biggest non-event in Australian politics! Members opposite do not know their view on prostitution, they do not know their view on the sex offenders’ register, they do not know their view on carbon tax, and they do not know their view on the MRRT! Does the Labor Party know its view on anything? Is there anything on which it has a policy position? The opposition is an absolute farce! There were four issues this week and there are four undecided positions. Members opposite have all had a lot to say today. Hands up who supports the MRRT. Anyone? One member! One member is honest. Members opposite are a laughing, laughing joke!
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