Budget coffers could be boosted by up to $17 billion over the next two years and $112 billion by the start of the next decade if the Rudd government’s proposed super profits tax on the nation’s mining sector was put in place now.

Costings from the independent Parliamentary Budget Office, commissioned by Greens leader Adam Bandt, show the abandonment of the Resource Super Profits Tax (RSPT) had cost federal governments $69 billion since 2012.

The RSPT, which emerged from the Henry tax review of 2010, was a 40 per cent tax on so-called “super” profits from most minerals and resources including iron ore, gold and coal. But after an uproar from the mining industry, the RSPT was ditched and replaced with the minerals resource rent tax (MRRT), which had a much narrower focus.

That tax was axed by the Abbott government. In its final year of operation, the MRRT raised less than $200 million after a steep fall in iron ore prices.

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But since then, iron ore has lifted to $US160 a tonne while mining companies have wound back investment spending that could be used to reduce business tax liabilities.

Mr Bandt said the PBO costings showed bringing back the RSPT would raise $9.2 billion in its first year of operation and $7.7 billion in 2023-24.

Over a full decade of operation, the RSPT would raise $112 billion, including $17.5 billion in 2030-31.

Neither the Morrison government nor Labor currently support a special tax on the mining industry.