Agree with you completely @sergeant. The battle hasn't started yet. From labours own policy costing document they forecast that capex spend as a result of their amendments will fall by 12.5% in 2027/8 and 25% in 2029. I expect that one of the items the "crisis talks" will attack is this ridiculous forecast. It would not be impossible to argue that capex, and the associated employment, could drop by 50% under labour.
@Hotfire my reading of the labour policy is that it would affect RR/HHR's project. I agree with you that RR/HHR, and likely any other O&G development, would argue for certainty around "which taxes when" before committing to any project. It may be some form of "grandfather clause" ?
What a mess! The whole EPL was set up to deal with the "super-profits" in 22. The "super-profits" are well and truly gone but very hard for any government to let a tax go.
HHR Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
(20min delay)