APPEA slams Federal budget

摘要

The Australian Petroleum Production and Exploration Association (APPEA) has joined the chorus of industry groups criticising the 2013 Commonwealth budget, describing it as a short-sighted sledgehammer on the oil and gas industry's international competitiveness. APPEA says tax changes in what is likely to be the Gillard Government's last budget will affect exploration costs, while thin capitalisation rules will hurt the sector. The peak body says that the resources boom has provided successive Australian Governments with windfall tax revenues for much of the past decade, all of which have been spent.