ACTU Gas Export Tax Plan: Lower Bills, More Housing
Alternatively, the proposed tax on gas exports would be enough to:
“Australia is one of the world’s largest exporters of gas, but the Australian government receives more from HECS repayments each year than it gets in revenue from the broken Petroleum Resource Rent Tax each year,” said Richard Denniss, Executive Director of The Australia Institute.
“The Prime Minister says that ‘progressive patriotism’ should define Australia’s trade policy, and it is hard to see a better way to put Australians first than to stop giving enormous quantities of gas away for free and to start putting the interests of Australian manufacturers and households first.
“The introduction of a gas export tax would incentivise gas companies to supply more gas to the Australian market, bringing down both gas and electricity prices for Australian households and businesses.”
Research by the Australia Institute shows:
“The ACTU’s proposal would not only provide a large boost to Commonwealth revenue that could vastly improve Australia’s health, education and housing, it would cut energy bills for Australian households and businesses by incentivizing gas companies to supply more gas to Australians and in turn lower the price,” said Richard Denniss.
“This is precisely the sort of big, bold policy the productivity roundtable should be looking at.”
https://australiainstitute.org.au/post/actu-plan-to-tax-gas-exports-would-cut-energy-bills-and-allow-government-to-triple-spending-on-housing/