Crossbenchers to back Labor’s resources tax changes if deductions cap for ‘greedy’ gas companies is cut
Greens, Jacqui Lambie Network and David Pocock offer government alternative to seeking Coalition support
Senate crossbenchers will back the government's petroleum resource rent tax changes in exchange for a cut to the allowable deductions cap, an update the Greens say would raise $2.6bn in revenue.
The changes to the PRRT would sail through the Senate with the support of the Greens, the Jacqui Lambie Network and David Pocock if deductions cap is reduced from 90% to 80%, under a crossbench compromise offered to the government. Greens senator Nick McKim has written to the treasurer, Jim Chalmers, urging Labor to entertain their idea rather than seeking Coalition support.
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