ACTU welcomes the Senate inquiry into gas industry royalty regime

ACTU welcomes the Senate inquiry into gas industry royalty regime
1 December 2016

Quotes from Australian Council of Trade Unions (ACTU) Assistant Secretary Scott Connolly:

• "The ACTU welcomes increased scrutiny into the design of the Petroleum Resource Rent Tax (PRRT), following the revelation that multinational companies are banking tens of billions of dollars in tax credits to be offset against future production.”
• “There is a ludicrous lack of royalties paid on Australian offshore gas projects. To put it into perspective, Australia is projected to receive just $0.8 billion from PRRT royalties in the coming years, whereas Qatar will receive $27 billion for a similar export volume."
• “The ACTU, alongside the International Transport Workers’ Federation, the Tax Justice Network and other civil society groups, has been campaigning for all Australians to get a fairer share in the royalties from these multi-billion dollar gas projects for many years.”
• “This is a positive step forward but Australian Unions will not rest until all multinational corporations are paying their fair share of taxes and working people have a tax system that works for them.”