Greens Treasury spokesperson, Senator Nick McKim, has responded to Labor\u2019s proposed changes to the Petroleum Resource Rent Tax (PRRT).<\/p>\n\n\n\n
\u201cLabor\u2019s changes to the PRRT have been designed by the gas industry.\u201d<\/p>\n\n\n\n
\u201cThe government considered two models that would likely have brought in more revenue and discouraged more gas development.\u201d<\/p>\n\n\n\n
\u201cBut the gas industry didn\u2019t like these models so the government came up with a third model which the gas cabal loves.\u201d<\/p>\n\n\n\n
\u201cUnder Labor\u2019s proposed changes the more profits gas corporations make, the less extra tax they pay.\u201d<\/p>\n\n\n\n
\u201cAnd Labor\u2019s proposed changes are also designed to encourage more investment in gas.\u201d<\/p>\n\n\n\n
\u201cThese changes are less than the bare minimum and will continue to fuel the breakdown of the planet\u2019s climate.\u201d<\/p>\n\n\n\n
\u201cThis is a rerun of Wayne Swan\u2019s Mining Tax.\u201d<\/p>\n\n\n\n
\u201cLabor has again designed tax changes in consultation with the resources sector so that the extra tax goes down if profits go up.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Greens Treasury spokesperson, Senator Nick McKim, has responded to Labor\u2019s proposed changes to the Petroleum Resource Rent Tax (PRRT). \u201cLabor\u2019s changes to the PRRT have been designed by the gas industry.\u201d \u201cThe government considered two models that would likely have brought in more revenue and discouraged more gas development.\u201d \u201cBut the gas industry didn\u2019t like … Continue reading “LABOR\u2019S PRRT CHANGES ARE LESS THAN THE BARE MINIMUM”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-21115","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=21115"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21115\/revisions"}],"predecessor-version":[{"id":21116,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21115\/revisions\/21116"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=21115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=21115"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=21115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}