Urgency

I move, That urgency be accorded the introduction and passing through all stages of the Energy Resources Levy Amendment Bill and the Energy (Fuels, Levies, and References) Amendment Bill; the introduction, first reading, and referral to a select committee of the Taxation (Annual Rates for 2023-24, Multinational Tax and Remedial Matters) Bill and the Taxation Principles Reporting Bill; and the first reading and referral to a select committee of the Land Transport (Road Safety) Amendment Bill.

Following long-established practice, the Government intends to progress bills through urgency as part of the Budget process. Two short energy bills will pass through all stages. The changes that they make are narrow and targeted. The purpose of the Energy Resources Levy Amendment Bill is to ensure that the Crown receives a fair financial return for its fossil gas. It must be passed quickly so as to avoid confusion over the current interpretation of the law, with possible losses of levy revenue to the Crown and the public.

The Energy (Fuels, Levies, and References) Amendment Bill aims to strengthen New Zealand’s fuel resilience and economic security. Urgency is being used to ensure that levy funding is available to roll out the fuel resilience policy package, as funding certainty is needed to finalise the arrangements for the reserve diesel stock arrangement by the end of 2023 and to administer the minimum stockholding obligation.

The urgency motion also includes three first readings so that each can be referred to select committee without delay, thereby maximising the time available for public consultation. The first of these is the Taxation (Annual Rates for 2023-24, Multinational Tax and Remedial Matters) Bill, which has to be passed by 31 March each year. Select committee scrutiny will be interrupted by the election. The bill also includes changes that are part of the Budget package. The Taxation Principles Reporting Bill proposes a statutory framework for the reporting of tax information based on core taxation principles. The Land Transport (Road Safety) Amendment Bill was introduced on Tuesday and strengthens powers to address unsafe behaviour on New Zealand’s roads.