The Gillard government has cautioned it may have to forego company tax cuts and higher superannuation contributions to counterbalance any loss of revenue from a potential agreement with the mining sector over the troublesome RSPT.

The government stands firm to its promise of restoring the budget to surplus within three years, with plans to utilize some of the tax revenue to help eliminate the present $57.1 billion deficit.

"We won't compromise the budget moving back into surplus in three years," Assistant Treasurer Nick Sherry said today.

He announced there could be "an adjustment" to other elements of the tax package, including reducing the company tax rate from 30 per cent to 28 per cent, and increasing compulsory superannuation contributions from nine to 12 per cent.

Business is worried company tax cuts will be a casualty of any deal, while the superannuation component is retained.

The probability for a modified version of the tax intensified today with Treasurer Wayne Swan again declaring the government's readiness to reach an agreement with miners.

"I don't intend to put any boundaries around those discussions," he said.
The opposition has no intention of backing a deal, saying it will cancel the levy if it wins at the next election.

"It will be a deal done with the government holding a gun to the miners' head," said opposition resources spokesman Ian Macfarlane.

Mr Macfarlane refused claims by mining tycoon Andrew Forrest that former prime minister Kevin Rudd was ready to declare an acceptable compromise on Friday, the day after he was ousted by Julia Gillard.

"While Andrew may have one view, it's not the view of the industry," Mr Macfarlane said.