8. JONATHAN YOUNG (National—New Plymouth) Link to this
to the Minister of Energy and Resources
How much did the Crown receive in royalty and taxation payments from petroleum production in 2008-09?
Hon GERRY BROWNLEE Link to this
I tell members that in the wee small hours of the afternoon Phil Goff looks around to see who has a Hansard hanging out of the back pocket.
Hon Darren Hughes Link to this
I raise a point of order, Mr Speaker. Earlier today you asked one of my colleagues to apologise for making a derogatory reference; in that case, it was made at the conclusion of the question. In the Minister’s case he started off, once he had finally got to his feet, with a jibe at the Opposition. All we were trying to do was alert him to the fact that he had to answer the question.
Mr SPEAKERWas it a derogatory comment? If it was derogatory, I ask the member to withdraw. If it was felt to be derogatory by the members that it was directed at, I think the member should withdraw the comment. I ask the Hon Gerry Brownlee to do so.
Hon GERRY BROWNLEE Link to this
I withdraw. In answer to the question, I am pleased to advise the House that the Crown received approximately $965 million in taxes and royalties from petroleum production in the 2008-09 financial year. Furthermore, the value of New Zealand’s oil exports in the 2008 calendar year was $2.8 billion, making oil our third-largest export earner behind only dairy and meat exports.
Hon GERRY BROWNLEE Link to this
GNS Science has recently undertaken a study of 10 petroleum basins to establish an estimated unproven resource that could reasonably be expected to exist. Even when taking a conservative approach it is estimated that the Crown receipt alone could increase to more than $10 billion per annum over the next 40 years, adding $400 billion to Government revenues. The petroleum sector could also generate over $30 billion per annum in export earnings by 2025.
Hon GERRY BROWNLEE Link to this
Earlier today I announced an action plan on petroleum for the Government. Its aim is to ensure that New Zealand becomes an attractive global destination for petroleum exploration and production investment. The action plan has a number of elements to it, including explicit Government encouragement of the sector, a review of the Crown’s capability to manage our petroleum estate, adjustments to our royalty regime, and legislative amendments to the Crown Minerals Act.
Catherine Delahunty Link to this
Can he confirm that the Crown received royalties from gold mining that totalled less than 1 percent of the mining companies’ earnings in 2008? Why is he so keen that the New Zealand public give up even more conservation land to be destroyed and polluted by foreign-owned mining companies?
Sue MoroneyI seek leave of the House to table an invoice addressed to the Minister of Women’s Affairs, the Minister of Labour, and Business New Zealand asking them to pay New Zealand women the $4 billion they are missing out on because of the 12 percent gender pay gap. The invoice is from the Pay Equity Challenge.
I am not entirely clear in my mind exactly what the document is but I will leave that for members to judge.
Hon GERRY BROWNLEE Link to this
I think we should know who generated the document before we can make a consideration.
I said when I sought leave that it is from the Pay Equity Challenge coalition. It is dated 18 November 2009.