Comment on Labor vows to listen to voters after One Nation's historic WA upset
MisterFrog@aussie.zone 2 days agoIf the contracts are a complete rort then I say we scrap 'em. Be the sovereign risk the investors should have taken into account investing into such an unfair arrangement…
Or even given some nominal compensation where they are made whole, accounting for inflation, but not profit.
These are our own resources we’re talking about. Legal arguments are a cop out when the law is set up to favour private property at the expense of the rest of us.
We most certainly can scrap bullshit contracts, signed by politicians who then go on to be employed by those same companies. It may not legally be corruption, but it is corruption.
We have 100% moral cover to tell these companies to get fucked, and we should do it.
What are they gonna do? Stop investing in extracting our gas resources and paying hardly any tax or royalties on it? OH NoOoOoOoOoO. What ever shall we do‽‽‽
Tenderizer@aussie.zone 2 days ago
Sovereign risk affects all industries, not just the gas industry. “Moral cover” counts for nothing.
MisterFrog@aussie.zone 1 day ago
We have resources. Would we lose some international investment? Maybe. But time and time again modest tax reform doesn’t lead to capital flight in the way capitalists claim.
And even if we don’t want to rip up contracts (though we should when they’re clearly unfair), there’s no excuse for not progressively instituting new tax and royalties settings as they expire.
And yet, the Labor government won’t, because they’re corrupt and bought by the gas industry (not in a legal sense, but in reality).