CABINET TO CONSIDER NEW GAS, COAL LEVY EXCLUSIVE - DENNIS...

CABINET TO CONSIDER NEW GAS, COAL LEVY
EXCLUSIVE - DENNIS SHANAHAN NATIONAL EDITOR
Federal cabinet is set to consider a new tax on gas and thermal coal aimed at cutting energy prices when Anthony Albanese returns from a nine-day overseas trip to attend three Asian summits.
It is expected that the new tax on thermal coal and gas producers would be temporary and aimed at reducing domestic energy prices and easing pressure on low-income households struggling with rising costs of living.
Any new tax on gas and coal producers and exporters will create a fiery political response from the gas and mining industries at a time when the Albanese government is warring with business over its contentious industrial relations changes.
Any additional tax on exports of gas and thermal coal would also concern trading partners such as Japan, which is sensitive to price rises and supply.
While senior government examination of the proposed new tax is imminent and described as a “live issue”, the Prime Minister’s overseas travel agenda precludes a full cabinet consideration for at least 10 days.…
…..Despite repeated undertakings from Mr Albanese and the Treasurer not to reintroduce a Rudd government-style resource super profits tax on the mining industry, coal and gas producers have been gearing for a campaign against new imposts on gas and thermal coal as part of a political campaign to cut domestic energy bills.
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