Looks like labour cames to their senses on Friday afternoon. Ministers met and decided on no super profits tax. Be interesting to see what happens next week with Coal stocks.
"While Bowen says all options will be considered, federal Treasurer Jim Chalmers has ruled out imposing a tax on the billions in windfall profits made by gas producers since the clampdown on Russia as well as direct subsidies to bill payers, warning this would drive up inflation.However, Chalmers said on Friday governments “will have to do more” to help lower prices confronting businesses and households in the east coast energy network, pointing to potential tougher regulations on gas companies."
Long holders beware, page-384
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