Treasury Secretary, Ken Henry was dissatisfied as the tax proposed by him was rejected. He had recommended the resource profit tax to the Government. However, he thinks that everything was fine with the plan and said that he would continue to defend the tax in the coming times.

A committee on fuel and energy, selected by the Senate, grilled Dr. Henry regarding the recent minerals resources rent tax, which was revealed by Prime Minister Julia Gillard.

The leaders of the mining industry were told about the tax by Minister for Resources and Energy, Martin Ferguson. Many people of the industry were not in favor of the tax.

Dr. Henry disclosed to the Senate that he has openly protected the recommendations of the report given by the committee. He also said that it is evident that presently, the tax has failed to generate adequate acceptability. Dr. Henry revealed that the budget is not under a threat from the lower income generated by the new mining tax of the Government.

In 2012/13, the tax will produce a sum of $10.5 billion in income, which is less by $1.5 billion generated by the RSPT.

Dr. Henry, however, declined to give his comments about the Government policy.