Call for increased tax on offshore oil, gas companies

May 10, 2024 8:38 am in by
Isabelle Tolhurst [BoQ]

A local mayor is among almost 40 regional mayors and councillors calling for offshore oil and gas companies to pay more tax.

Borough of Queenscliffe mayor Isabelle Tolhurst is among the signatures on the open letter to the federal government, saying major profits should be taxed at a higher rate.

They say that money could be used to help fund communities manage climate-fuelled disasters.

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The letter has been printed in many newspapers today, saying local governments are the least resourced level of government to cope with the increasing costs of addressing climate impacts.

It comes as a parliamentary inquiry prepares to hand down its report into Labor’s proposed changes to the petroleum resource rent tax.