More tax would worsen energy crisis: APPEA

Dr Malcolm Roberts.

Dr Malcolm Roberts.

Silence can be golden. It can also be very revealing.

There is a loud campaign demanding new taxes on Australia’s oil and gas industry, focused on the alleged failings of the Commonwealth’s Petroleum Resource Rent Tax.

The campaign peddles a colourful story about big companies behaving badly.

But the activists are silent on the impact of new taxes on local jobs and energy prices.

It may seem rude to ask but a credible case for increasing taxes must assess whether changes help or hurt economic growth. By definition, tax increases will deliver more revenue but at what cost?

It is also bizarre that we should see a campaign pushing to raise billions in new taxes from gas producers at a time when the national conversation is about finding ways to reduce rising gas prices.

Let’s stress test the case for change.

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