132nd Henry George Address by Professor Ross Garnaut Australia: Made for Free Trade and a Tax on Rent (Transcript of speech recorded at the Kelvin Club, Melbourne, 7 September 2023. Lightly edited for clarity and brevity.) Thanks, Tim, and very good to be here with...
On Friday 20 August, Jesse Hermans & I appeared at Senator Patrick’s Oil & Gas Inquiry. The focus of the inquiry was to evaluate what Australia could do to maximise returns from publicly owned oil and gas resources and examine how other nations have designed their tax systems. Particularly in light of climate change and the potential for stranded assets.
Prosper recently submitted to the Standing Committee on Economics' Australia's Oil and Gas Inquiry. The Reform Agenda An effective resource rent mechanism is paramount to guaranteeing the economic rights of all citizens. This ensures the public receives a fair share...
West Australia should not raise mining royalties because GST revenues are distributed to human need, according to the Minerals Council of Australia. Their logic is as twisted as a snake in a maze: both state boundaries and orebody sites are accidents of geography,...
The Petroleum Resource Rent Tax has been a successful revenue-sharing device since 1987, delivering well over $33 billion to Consolidated Revenue, derived entirely from the economic rents of resource extraction with no harm to producers. It has never deterred...
Matthew Stevens, the AFR’s kindly mouthpiece for big miners, is today promoting a range of very bad ideas that suit his, ahem, audience. The article is paywalled from sheer embarrassment. He lauds the political destruction of WA Nationals’ leader Bernard Grylls for...
Craig Emerson, principal architect of Australia's Petroleum Resource Rent Tax, is out in the AFR today fighting for good taxes and sound economics. For thirty years, the PRRT had been a successful revenue-sharing device, delivering well over $33 billion to...
Treasury is asking why the Petroleum Resource Rents Tax collects only a fraction of the revenues it could. Actually, they know exactly what is wrong, but need public consultation in case someone has a bright idea to fix this broken tax without conflict. There are...
Prosper Australia created the following Review of the Petroleum Resource Rent Tax (PRRT)
Written by Dr Cameron Murray.
by Dr Cameron Murray Summary 1. Successful reforms of oil and gas resource taxation that reclaim the public’s rightful share of resource rents will be vigorously contested with extensive lobbying and campaigning. The oil and gas industry is also likely to challenge...