Re-thinking the influence of regulatory capture in the development of government regulation

被引:0
|
作者
Sadiq, Kerrie [1 ,2 ]
Mack, Janet [1 ]
机构
[1] Queensland Univ Technol, Sch Business, Brisbane, Qld 4001, Australia
[2] Monash Univ, Taxat Law & Policy Res Grp, Clayton, Vic 3800, Australia
来源
AUSTRALIAN BUSINESS LAW REVIEW | 2015年 / 43卷 / 05期
关键词
D O I
暂无
中图分类号
D9 [法律]; DF [法律];
学科分类号
0301 ;
摘要
On 30 March 2015 the Australian Federal Government launched its "Re:think" initiative with the objective of achieving a better tax system which delivers taxes that are lower, simpler and fairer. The discussion paper released as part of the "Re: think" initiative is designed to start a national conversation on tax reform. However, inquiries into Australia's future tax system, subsequent reforms and the introduction of new taxes are nothing new. Unfortunately, recent history also demonstrates that reform initiatives arising from reviews of the Australian tax system are often deemed a failure. The most prominent of these failures in recent times is the Minerals Resource Rent Tax (MRRT), which lasted a mere 16 months before its announced repeal. Using the established theoretic framework of regulatory capture to interpret publically observable data, the purpose of this article is to explain the failure of this arguably sound tax. It concludes that the MRRT legislation itself, through the capture by the mining companies, provided internal subsidisation in the form of reduced tax and minimal or no rents. In doing so, it offers an opportunity to understand and learn from past experiences to ensure that recommendations coming out of the Re: think initiative do not suffer the same fate.
引用
收藏
页码:379 / 399
页数:21
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