Friday, October 14, 2016

MUA – Federal Government Gives Australia's Gas Away

Stunning media reports this week have revealed that the Australian Government is effectively giving away our offshore oil and gas for free. Despite a boom that will make Australia the world's largest exporter of gas in a few years time, we're set to receive almost nothing in government revenue.

This is a scandal. But with the new parliamentary term starting, we have an opportunity to help set the economic agenda by demanding an inquiry into the failure of the petroleum tax (PRRT) regime.

Sign the petition to stop our natural resources from being given away for free

New research conducted for the Tax Justice Network has shown how absurd our failure to benefit from the LNG boom really is. In the year we take over from Qatar as the largest LNG exporter in the world, we'll collect just $800 million in government revenue. Qatar, by contrast, will receive $26.6 BILLION.

Lost tax income means lost opportunities to properly fund schools, hospitals and childcare centres; boost Newstart back above the poverty line; and build critical infrastructure for the 21st Century.

Join the call for an urgent inquiry.

Momentum for change is already building. On Wednesday night the Sydney Morning Herald reported that the WA Treasurer has joined the call for an inquiry.  The Greens have indicated support and we've heard that talks are underway inside the Labor Party.

With the Government lacking a coherent economic plan, we have a great opportunity to help set the agenda if we move fast. If we join together, we can put pressure on Parliament to fix the broken PRRT which is basically giving away our finite natural resources for free.

In Unity,

Will Tracey
Deputy National Secretary

P.S. Into the future, we could be losing hundreds of billions of dollars on the gas boom. This is important, because we want a decent society where we can fund our schools, our hospitals, our universities. We need this revenue for the benefit of the community. Join the call for an urgent inquiry today. 

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