Albanese Blocks Gas Tax, Despite Public Support

0:00Prime Minister Anthony Albanese is set to block any new tax on gas companies' windfall profits in next month's federal budget. Even though Treasury modeled options to grab more revenue amid a big deficit, the idea is off the table right now thanks to the ongoing fuel crunch. Earlier this week, Albanese wrapped up trips to Singapore, Malaysia, and Brunei to lock in fuel supplies and stress, Australia's reliability as a trade. Partner Senior sources say no fresh gas levy is hitting cabinet three weeks out, with the Middle East mass making an even tougher to push. The push for a 25% export tax, led by Independent Senator David Polcock and the Australia Institute, is picking up steam in public, opinion, and even some labor circles. Polling shows 70% of grains voters and 67% of one nation-backers want gas giants paying more, feeling the system's unfair. Industry reps fire back that they showed out $21.9 billion in taxes and royalties last year alone, making them Australia's.

1:02Second biggest corporate payers, on top of company taxes, and the petroleum resource rent tax. Western Australia's premier Roger Cook chimed in too, saying higher levies would hurt his state bad. A green-led Senate inquiry keeps digging into the gas tax setup, while the government's finalizing an East Coast gas reservation plan. Alvinies calls for straight talk on the facts, noting some campaign claims, twist the truth about what companies already owe. Stay informed with Adelaide News today, AI-powered updates.