PRRT is ‘deterring new investment’ in gas: Shadow Finance Minister

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Shadow Finance Minister Jane Hume says the Petroleum Resource Rent Tax is “deterring new investment” in gas. “The PRRT obviously is very much a new tax, and it’s going to affect particularly gas producers, … gas producers are already under so much pressure,” she told Sky News Australia. “They originally had price caps put on them, which was an unprecedented market intervention, then they had the additional safeguard mechanism, and now they’re having the PRRT ... all of this is deterring new investment in gas.”