Rich Rinehart doesn’t need a tax cut: Swan

Treasurer Wayne Swan has fired another salvo against mining magnate Gina Rinehart following her designation as the world's richest woman.

AAP reports Swan used the news about Rinehart to argue the case for the Government's mining tax.

Swan said while Australia makes a point to "celebrate wealth creation" Opposition leader Tony Abbott's plans to scrap the mining tax went too far.

"We want even more people to have a stake in our success and we don't think the world's richest woman needs the tax cut Mr Abbott has promised her," he said.

The Government says the 30 per cent mining tax will spread the benefits of the mining boom to the wider economy.

It will include payments to 1.5 million families, business tax breaks, and an increase to superannuation payments.

Rinehart was recently named the world's richest woman by the BRW Rich List, which said there was a "real possibility" the magnate would one day become the world's richest person.

Image: Paul Kane, Getty Images

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