Posts Tagged ‘fair fuel stabiliser’

Bullingdonia: Osborne’s banana republic

25/03/2011, 01:32:24 PM

By Dan Cooke

In other news this week, concerns were raised about standards of governance in the Republic of Bullingdonia.

The ruling party, with a strong traditional base in the south east of the country,  imposed a shock 12% tax hike on the country’s oil and gas industry. This is overwhelmingly based in the state’s northern province where the governing party recently won only one of all 59 constituencies in the recent general election.

Critics charged that, while the government of Bullingdonia claimed to be promoting growth, the levy would undermine the competitiveness of one of the country’s leading industries and that the lack of consultation on its introduction would undermine the certainty needed for international investment. While the ruling party argued they were fulfilling a manifesto commitment to a “fair fuel stabiliser”, it was pointed out that such plans never previously envisaged a levy on the oil industry. (more…)

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