Nobel Prize-winning American economist Joseph Stiglitz made the assertion on ABC’s Q&A on Monday night. What exactly did he mean, and does the claim stack up?
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Articles on Petroleum resource rent tax
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In this podcast, @michellegrattan canvasses the budget with Treasurer @JEChalmers, Shadow Treasurer @AngusTaylorMP and The Conversation's politics + society editor @amandadunn10
Changes to the petroleum resource rent tax (PRRT) are long overdue, but Labor’s modest attempt at reform represents a missed opportunity.
Grattan Institute estimates point to deficits without end, growing with the need for greater spending on health, defence and natural disasters. We’ve presented the treasurer with 13 costed options.
Australia already imposes a super-profits tax of 40% on gas producers, but very little is paid. Yet we know how to simplify the system, so we’re not gifting billions to multinational companies.
Australia gets less from the petroleum resource rent tax than it did 20 years ago when exports were small.
Top contributors
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Adjunct Senior Research Fellow, Business Law and Taxation Dept, Monash Business School, Monash University
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Professor, Deakin Law School, Deakin University
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Professorial Fellow, University of Canberra
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Chief executive officer, Grattan Institute
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Deputy Program Director, Budgets and Government, Grattan Institute
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Fellow, Grattan Institute
