Reforming PRRT
Ending deceptive industry gaming mechanisms
Parliament legislated a 40% tax on offshore petroleum super-profits in 1987. From the gas projects that now dominate the regime, it has barely ever been collected. The rate was never repealed — it was made unreachable.
Parliament legislated a 40% tax on offshore petroleum super-profits in 1987. From the LNG projects that now dominate the regime, the public has barely collected it. The rate was never repealed — it was made unreachable. The full brief explains the two gaming mechanisms and the measurement repair that honours the original bargain without reopening a single contract.
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