One Nation proposal would abolish offshore gas profits tax and acquire 30% equity in new projects in a move the Coalition says is ‘borrowed from Venezuela’
Get our breaking news email, free app or daily news podcast
One Nation has vowed to replace the contentious offshore gas profits tax and acquire 30% equity stakes in new ventures under an interventionist policy designed to extract “vastly greater returns” for Australian taxpayers from the resource.
The proposal for the commonwealth to co-own gas projects drew a mix of criticism and cynicism from the government, industry and the Coalition, which accused One Nation of importing ideas from Venezuela.
Continue reading...This article was originally published by The Guardian and written by Dan Jervis-Bardy Chief political correspondent.
Read original article on The Guardian