The Government has extended an income tax exemption for oil rigs for another five years until 2024, despite leading a worldwide push not to subsidise fossil fuel companies.
It says the tax break is necessary to stop the oil rigs and seismic vehicles “churning” in and out of New Zealand waters every 183 days to escape all tax liability, and means that they will still pay other taxes to the Government.
Revenue Minister Stuart Nash simply told Stuff the decision was “the right thing to do” when asked on his way into caucus.
But Greenpeace head and former Green Party co-leader Russel Norman said the exemption was clearly a subsidy for oil exploration.
So the Government is going to make most motorists pay thousands more in car taxes but also is extending a tax break for oil rigs.
And it says climate change is their biggest priority!