A “handy amount”. That’s how Anthony Albanese described the almost $1 billion in extra revenue added to the badly stretched federal budget from a landmark settlement with miner Rio Tinto last week.

One of the biggest settlements in the nation’s tax history, the $991 million deal related to Rio’s long controversial Singapore marketing hub and a tax deduction claim associated with financing a company dividend. It could be the first in a series of major settlements with big multinationals coming in the months ahead.