Genter Julie Anne: Taxation (Annual Rates Employee Allowances and Remedial Matters) Bill — First ReadingText is incorporated into the Bound VolumeGenter Julie Anne: Taxation (Annual Rates Employee Allowances and Remedial Matters) Bill — First Reading[Sitting date: 10 December 2013. Volume:695;Page:15387. Text is incorporated into the Bound Volume.]JULIE ANNE GENTER (Green): The Green Party stands for a clean green economy that works for all New Zealanders. We want to look after our land our water our air and our people and we can do this. In fact that is the way that we are going to have long-term prosperity—by looking after our national assets and looking after all of our people not just the ones who currently have all the money and all the power. We cannot support this bill the Taxation (Annual Rates Employee Allowances and Remedial Matters) Bill because it is extending tax exemptions for offshore oil exploration. The Government is granting tax exemptions to foreign companies to comeand explore our waters to make it easier for them to potentially find oil which is at the very best going to make us only a little bit of money for a very short period of time. I think that must be because this National Government is in complete denial about climate change and about the urgent need to transition to clean green alternatives which we could do if there was the least bit of Government support for it. But we have seen the National Government cut tax breaks for the development of clean green alternatives likebiodiesel. There has been almost no development in the biofuel area since National has come to power and instead it is handing exemptions to foreign-owned oil companies.It is hard to believe that in 2013 the Government does not have a better idea about sustainable long-term economic prosperity because we can have that. That is something the Green Party advocates for—smart tax policies that would support clean green businesses and businesses that are here in New Zealand. We are not even talking about New Zealand businesses here; we are talking about foreign oil companies while New Zealand businesses small businesses do not get any breaks from this Government. Why? Because they do not have the money or power to lobby the Government for special treatment. So time and time again we see the National Government giving breaks to certain big companies most of which are foreign-owned so that they do not have to compete and they do not have to innovate. We have seen that happen with Skycity and now we are seeing it with the oil exploration that is happening which not only is not smart because there is no long-term future for fossil fuels on this planet if we want to have a healthy stable climate for our children and grandchildren but also there is a very immediate risk to our “clean green” brand and our beaches. We saw how terrible it was when theRena was grounded—Lindsay Tisch: Order!JULIE ANNE GENTER: The Taxation (Annual Rates Employee Allowances and Remedial Matters) Bill extends exemptions for foreign-owned oil companies to explore off our shores. I think it is important that the public understands the very high risk of a spill when we are talking about an exploratory well. There was only a tiny amount of oil that was spilled comparatively from theRenaon the beaches of Tauranga in 2011. If we had an accident like the one that happened in the Gulf of Mexico which was an exploratory well that was drilled at 1500 metres beneath the sea then that would result in huge economic damage.Looking at the regulatory impact statement it is pretty obvious who is dictating this policy to the Government. It states: “Targeted consultation has been undertaken with the [oil and gas] industry representative body.” which is the Petroleum Exploration and Production Association of New Zealand which supports making the exemption permanent. Oh that is a big surprise! The industry body supports making permanent tax exemptions. That is great! The Ministry of Business Innovation and Employment also supports it because it does not have any ideas for economic development other than digging up and selling off the family silver. Treasury was consulted and favoured the status quo of letting the exemption lapse so we see the Government ignoring the advice from Treasury that says “No you shouldn’t give tax breaks. One shouldn’t give tax breaks to certain industries. It is not consistent with the Government’s broad-based low-rate tax strategy.”So once again the National Government is acting in the interests of a few foreign-owned corporations risking our clean green environment and brand and privileging a few at the expense of sound advice from Treasury. Thank you.