The report finds that twice as much revenue is forecast to be collected from vehicle registration ($1.3 billion) than from gas royalties ($522 million) in the 2024-25 budget.
The research findings are presented on a prominent billboard at 263 Georges Terrace, Perth, in view of the WA Treasurer’s office, WA Parliament and tens of thousands of motorists daily. In part, the billboard reads: “WA motorists pay more in rego than the gas industry pays in royalties. Does that seem fair?”
Key findings:
- The WA Government is expected to receive $522 million in royalties from the gas industry in 2024-25, down from $660 million in 2023-24, and will contribute just 1.3% to state government revenue.
- This is less than half of the $1.319 billion expected from vehicle registration fees, up from $1,263 billion in 2023-24. [see Figure 1 below].
- The gas industry also pays little in federal tax – the combined tax payments of Chevron, Exxon, Woodside and Shell raise less money than beer excise.
- Just 0.7% of the state’s workforce is employed in oil and gas extraction.
- In the current skills shortage, new gas projects will divert jobs from other industries rather than create additional jobs.
“Gas companies have been ripping off West Australians for too long,” said Mark Ogge, Principal Advisor at the Australia Institute.