Higher Petrol Prices = Less Revenue For Government
"Rising petrol prices do not produce a tax windfall for the
Government. They actually mean less revenue," Finance and
Revenue Minister Michael Cullen said today.
effect of higher prices is that people try to reduce their
petrol consumption. That means less excise tax revenue
because excise tax is collected on volume rather than
"The second effect of higher petrol prices is that
people cut back their discretionary spending in other areas
to offset the increase in their petrol budget.
that, although the Government may collect more gst on
petrol, it will collect less on other items.
revenue effect for the Government is neutral on gst and
negative on the excise," Dr Cullen said.
Dr Cullen was
responding to speculation that the increase in petrol prices
was bringing in more money for the Government, creating
scope for a reduction in petrol tax.
is not how it works," he said.
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Hope For Nature: A New Deal For The Commons
Joseph Cederwall on The Dig: The disruption and destruction of the interconnected biodiversity of Earth is the most serious challenge humanity has ever faced. This is an ecosystem emergency on an extinction scale. It is also a serious threat to the inherent rights of the diversity of non-human life, ecosystems and human Cultures on Earth to exist and thrive. The current global paradigm is devastating life everywhere by disrupting vital “ecosystem services” like the food, water, and climate regulation systems that both humanity and biodiversity depend on in an interconnected balance. It is increasingly clear that the primary driver of this crisis is the limiting and infectious worldview around land and resource use so central to the global capitalist system. To fully understand the biodiversity crisis and explore what comes next, it is necessary to address this mind-virus at the heart of our modern civilisation – the dominion worldview. More>>