The Green Party is glad special treatment for oil and gas industries has been winding down since this Government was elected and the last remaining taxpayer funded support measures for fossil fuel industries in New Zealand will be reviewed.
In the work program response to the tax working group report the ‘seven-year spreading’ provision, which officials have described as ‘least defendable’, as well as the future of the non-resident oil rig exemption will be reviewed.
“Special treatment for oil and gas industries has been winding down since this Government was elected”, Green Party spokesperson on energy Gareth Hughes said today.
“From 2008 to 2017, the total spend for special treatment for the fossil fuel industry was $237.7 million. It beggars belief that we would pour this amount of resource into an industry that is cooking the planet.
“I’m proud that under this Government sponsorship of oil industry events have ceased, Government funded data packs have ended and R&D support is coming to an end.
“The Green Party has made these changes a priority and we want to see all support measures for fossil fuel industries come to an orderly end.
“For far too long, the oil and gas industry have benefitted from financial support measures which have encouraged fossil fuel exploration.
“Winding back financial support and tax breaks for the oil and gas industry helps builds a sustainable and low emissions economy whilst ensuring the wellbeing of our kids.
“I’m glad that this work programme includes a review of remaining measures so we can finally end the special treatment for the oil and gas industry”.