Treasurer Jim Chalmers will consider increasing tax on gas companies and has kept the door open to imposing price caps as part of a mandatory code of conduct for the industry, as the government faces mounting pressure to intervene to get power prices under control.
The government went to the election promising to lower the average household power bill by $275 a year by 2025 – an all-but-abandoned commitment seized on by the opposition, but Labor defended the price modelling as pre-dating the energy crisis caused by the Russian invasion of Ukraine. If there are other ways that we can do this responsibly, which takes into consideration our international partners, the contracts that have been signed and a whole bunch of other competing pressures, then we are prepared to do that.Energy minister Chris Bowen said the government would act “decisively and carefully” to address rising power prices, but added that it was taking the time to ensure it had the right policy settings.
LisaVisentin When you read the Government is considering anything, it probably will not happen, or have a commission which will take years to complete
LisaVisentin maybe in 2030..............rushing into it might anger the big end of town
LisaVisentin Please yes
LisaVisentin Genius!
LisaVisentin Make it a super profit tax. Normal tax is okay but a greedy gas company needs to be taxed at a higher rate.
LisaVisentin 95% of Aussies would support Chalmers triggering the gas reserve. what is he waiting for?
LisaVisentin Albo rent a girl must have increased her hourly rate
LisaVisentin People who voted for Abbott, & the media who spruiked for him have a lot to answer for Axing the Minerals Resource Rent Tax in Sept 2014 was an abomination It was designed for times like this A brilliant policy axed due to Credlin/Abbott/MSM's lies We should be rolling in 💰
LisaVisentin Tax the super rich and big companies. Close loopholes. Surely this is common sense, decency and compliant with labor ideology.
LisaVisentin Socialism is great until you run out of other peoples money.
LisaVisentin Why not follow mark mcgowans lead ?
LisaVisentin ABOUT TIME! bravo
LisaVisentin Norway has a 1.2 Trillion dollar sovereign fund built on their oil reserves. What does Australia have based on our ore reserves. FAT ZERO!
LisaVisentin 🤷♂️🤦♂️🦄🤡
LisaVisentin Good idea, Dr Jim
LisaVisentin Is this another Manufacturing News and Outrage 🤔
LisaVisentin Goid
LisaVisentin Still dancing around the edges. Think collectively so that you can act strategically [of course the thinking should be within a given timebox].