One Nation proposal would abolish offshore gas profits tax and acquire 30% equity in new projects in a move the Coalition says is ‘borrowed from Venezuela’ Get our breaking news email , free app or daily news podcast One Nation has vowed to replace the contentious offshore gas profits tax and acquire 30% equity stakes in new ventures under an interventionist policy designed to extract “vastly greater returns” for Australian taxpayers from the resource. The proposal for the commonwealth to co-own gas projects drew a mix of criticism and cynicism from the government, industry and the Coalition, which accused One Nation of importing ideas from Venezuela. Continue reading...