Dumb Coalition blocks sensible resources tax reform


Treasurer Jim Chalmers has announced the federal government will make sensible changes to the petroleum resource rent tax (PRRT).

The federal government is hoping to secure opposition support for its legislation to toughen the PRRT which is aimed at raising an extra $2.4 billion over four years.

The Greens want that amount doubled and an extra $5.6 billion raised from LNG producers over the decade, or they will vote against the legislation.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.