Hansard will take a while to do the full transcript, which will be bloody brilliant.
"The proposition is that the non-renewable resources of the community belong to the Australian community at large and that the Australian community should regard the mining of those products as effectively balance sheet transactions. That is to say selling an asset.
As anybody would know, whenever you sell an asset it would be prudent to regard the selling of the asset as a balance sheet transaction and not something which can go on forever to finance recurrent spending
Whenever one sells an asset one will always be concerned about the price at which one sells it.
If it was your own asset you would be unlikely to give it away.
You'd take a very keen interest in the price that you got for the asset."
. Henry - here's what he said that I tweeted
. Three of the best things written about the Resource Super Profits Tax
. Wednesday column: We'll still be mining