the use of crisis-afflicted European-style windfall profit taxes, Mr Husic hinted that some form of revenue measure may yet be revived if moral suasion fails even though it is not currently on the agenda.on Thursday. “We need the gas companies to embrace common sense, and, if not we’ll explore other options.”over a heads of agreement struck last month by Resources Minister Madeleine King with the three major east coast gas exporters.
Labor is now looking at making it compulsory. And while it does not include price controls, which the gas industry says would kill off investment in pipelines and supply, it does have wording that requires gas producers to treat customers in a “fair and transparent” manner. The Coalition seized on Labor’s internal divisions over the issue, with deputy leader Sussan Ley saying on Thursday that Labor is not doing enough to address the rising cost of fuel and inputs.“We’re not talking about the minister for the arts and the minister for sport not agreeing,” she said.
This is why the manufacturing lobby group has instead called on the government to take a three-pronged approach. But because the first two options are likely to be expensive, AIG is urging the government to offset the cost by amending the PRRT.
weak as water
“My firm preference is to avoid a tax solution,” Mr Husic told The Australian Financial Review on Thursday. “We need the gas companies to embrace common sense” Govt still has no idea the flow on effects that will come to fruition in 2023 when these contracts turn into bills.
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‘It’s team Australia or team greed’: Industry Minister criticises gas companiesIndustry Minister Ed Husic has criticised Australia’s gas companies as domestic gas prices continue to rise. “All they’re doing is sucking up an Australian resource and selling it at phenomenal prices overseas and doing so in such a way that is putting pressure on manufacturers and households in this country,” Mr Husic said. “They can either do the right thing by the country or continue to be greedy. It’s team Australia or team greed.” 🤡 If they didn't export it, the investment to extract it wouldn't have happened. It's a failure of successive governments to not mandate a percentage available for Australian use. But what else would you expect from someone that's never worked in the private sector? Whatever happened to the law of supply and demand. 10 years ago, in the realm of Rudd/Gillard I had to do some investigation into a gas fired power station & 25km of 66kV power line. It was 3 years old and never been used. Why? The price of gas was too high to compete with coal. But they had a plan 🤔
Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: GuardianAus - 🏆 1. / 98 Read more »
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Source: FinancialReview - 🏆 2. / 90 Read more »