The International Monetary Fund has given Australia a favourable economic report.

But at the same time it’s voiced concerns over how much revenue the new mining tax will actually raise.

Zoe Knobel reports.

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TRANSCRIPT

The strength of Australia’s economy has been applauded by the International Monetary Fund.

Federal Treasurer Wayne Swan welcomed the report in Washington where he’s discussing global economic progress as part of IMF and the World Bank meetings.

Wayne Swan, Treasurer: “It’s a very big tick for the Australian economy, it’s very clear amongst advanced economies that the Australian economy is leading the way.”

Mr Swan says the IMF endorses the government’s mineral resource rent tax but he hasn’t addressed their concerns about how it will generate the expected ten and a half billion dollars revenue.

Meanwhile, Opposition leader Tony Abbott has attended the British Conservative party conference in England where he met with Prime Minister David Cameron in lieu of visiting troops in Afghanistan.

While Mr Abbott cops criticism of his decision, Britain’s Defence Secretary commended the war effort.

Tony Abbott, Opposition leader: “He was extremely complimentary of Australia’s contribution to Afghanistan.”

And back home, the New South Wales Opposition has placed Independent MP Rob Oakeshott under investigation for corruption.

Mr Oakeshott reportedly lobbied Prime Minister Julia Gillard and Tony Abbott to give one of his biggest political donors preferential access to lucrative Defence contracts when negotiating the leadership.

Zoe Knobel, QUT News.