Anthony Albanese rules out gas export tax ahead of Budget as Greens push continues in Sydney
An inquiry report is likely to pour cold water on hopes for a gas export tax in the budget, but proponents vow to continue the fight regardless.
Proponents of a gas export tax have vowed to keep pushing Prime Minister Anthony Albanese until the next election, as an inquiry into the proposal is set to dash hopes it will be included in the budget.
The Greens-led parliamentary inquiry into the taxation of Australia’s gas exports is set to release its final report on Thursday.
But advocates for the change are pessimistic it will be included in Tuesday’s budget after Mr Albanese killed off the prospect of a new tax.
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By continuing you agree to our Terms and Privacy Policy.Instead, he prioritised maintaining the country’s reputation as a reliable supplier of gas to Asian trading partners to ensure fuel supplies.
While Greens Senator Steph Hodgins-May and Independent David Pocock will argue in favour of a new tax in the report, Labor and coalition members of the committee are set to advise against it.
But Greens Leader Larissa Waters will promise that the minor party will continue to fight for the new tax beyond the budget.
“We are not going to stop pushing for gas companies to pay their fair share and for regular Australians to reap the benefits of cheaper, cleaner energy,” she will say in Sydney on Thursday.
Instead of Labor’s plan to set up a gas reservation scheme, which could cement gas use, Senator Waters will call for revenue from a new export tax to help speed up the electrification of freight, according to an extract of a speech she will deliver to the Smart Energy Council.
A campaign led by Senator Pocock and the Australia Institute to introduce a 25 per cent tax on gas exports has gained widespread community support in recent months.
The left-leaning think tank claimed the tax would bring in $17 billion extra in revenue each year
Senator Pocock said the campaign was not going away.
“It is inexcusable for the Albanese government to side with multinationals when there is now such broad support to raise revenue through a gas export tax,” he said in a statement to AAP.
“We can be a reliable trading partner and fuel security ally while still getting a fair return for our gas”
The gas industry argues it already pays almost $22 billion in taxes and royalties per year, and the export tax proposal would make future projects financially unviable.
