{"id":23691,"date":"2014-01-14T06:10:17","date_gmt":"2014-01-14T06:10:17","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=23691"},"modified":"2014-01-14T06:10:17","modified_gmt":"2014-01-14T06:10:17","slug":"fracking-and-tax","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2014\/01\/14\/fracking-and-tax\/","title":{"rendered":"Fracking and tax"},"content":{"rendered":"<p>The history of the extractive industries is riddled with corruption. Some is on a grand scale. Some is petty. Some definitely involves paying people off using public money - as the offer to local authorities of a small cash bonus if they permit fracking in their area appeared to be yesterday.<\/p>\n<p>But in every case the corruption is essentially about capturing the rents due from the extractive industry to the state, usually in the form of a royalty and sometimes in the case of a profits tax.<\/p>\n<p>In the UK <a href=\"http:\/\/www.theguardian.com\/politics\/2013\/jul\/19\/george-osborne-tax-break-fracking-shale-environment\" target=\"_blank\">we have set this tax rate especially low<\/a>. There will be little tax bonanza for the UK as a result. There will be for big business.<\/p>\n<p>We blew North Sea oil's potential to build our future. If we have to frack (and I am not convinced) surely we are not going to blow the tax again, are we?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The history of the extractive industries is riddled with corruption. Some is on a grand scale. Some is petty. Some definitely involves paying people off<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2014\/01\/14\/fracking-and-tax\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-23691","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/23691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=23691"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/23691\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=23691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=23691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=23691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}