Mr Dutton says he bought shares in BHP because
the Federal Government's tax announcement was
wiping value off of mining companies.
Federal Opposition frontbencher Peter Dutton says he believes the Government's proposed super profits tax is damaging, despite recently buying shares in a mining giant.
Mr Dutton spent just under $2,000 on 50 BHP shares earlier this month.
His purchase came just two days after the Government announced its plans for the 40 per cent tax.
He says he bought them because the tax announcement was wiping value off good companies.
Federal Treasurer Wayne Swan says Mr Dutton's share purchase puts a hole in the Opposition's argument.
"Apparently Peter Dutton has been buying BHP shares at the same time as the Liberal Party are attacking the RPST and saying that it will destroy the mining industry," he said.
"I think Peter Dutton's got a different view of his investment profile than they've got of the fear campaign and all the mudslinging they're engaged in."
Small Business Minister Craig Emerson says Mr Dutton's actions show the Opposition does not really believe the tax will damage the mining industry.
"I'll say this about Liberal politicians: look at what they do, not at what they say," he said.
The AWU's Paul Howes agrees.
"It exposes the lies that have taken place by the Liberal Party," he said.
But Opposition Leader Tony Abbott, who says his resolve against the proposed tax is growing, has defended Mr Dutton.
"I will let every person make their own investment decisions but if you take BHP at their word, there's the coal mines in Queensland, the iron ore mines and uranium mines in the west, there's the $22 billion Olympic Dam expansion - all big question marks over them because of this new tax," Mr Abbott said.
Mr Dutton says he has never believed the tax will stay in place.
