Pocock

ACT independent David Pocock is calling for a 25% tax on gas exports to fund welfare and housing. Follow today’s news liveGet our breaking news email, free app or daily news podcastLabor should use the proceeds of limiting tax concessions for property investors and a crackdown on gas export profits to fund welfare increases and build housing, charities and social service groups say.Ahead of next month’s federal budget, the Albanese government is under pressure to wind back negative gearing rules and the 50% capital gains tax discount for property investments, and to tax more of the profits from soaring commodity exports, pushed up by the global energy shock.People on the lowest incomes are skipping meals, delaying medical care and rationing energy just to get by.Frontline services are operating at capacity, facing growing demand and increasingly complex needs. Current policy settings are not meeting the needs of our communities – it’s clear that significant and sustained public investment is essential. Continue reading...

Government faces political fight as industry says mooted 25% levy on exports would hurt Australia’s economy and energy securityGet our breaking news email, free app or daily news podcastGas giants will lobby against any federal government moves to introduce a 25% export levy on windfall profits, as crossbenchers pressure the prime minister to redirect billions of dollars in “wartime profits” to Australians struggling amid the global energy crisis.It comes after the prime minister’s department asked Treasury to model the effects of placing a flat 25% tax on gas exports, the ABC reported on Friday, along with any further changes to the petroleum resource rent tax (PRRT) and corporate income tax. Continue reading...

This blog is now closedAustralia to release nearly 20% of fuel stockpile as Bowen insists country ‘nowhere near’ running outGet our breaking news email, free app or daily news podcastJoyce says surge in support for One Nation reflects will of the people, not political jostlingBarnaby Joyce spoke to RN Breakfast this morning about One Nation’s targets in the next federal election.We want to win seats wherever they are. We have no real target against National seats or Liberal seats, but we want to give people the option to vote for us in Labor seats, in National seats, and Liberal seats, and in teal seats.If people choose to vote for One Nation, then you must respect that choice. You must understand. You do not own their vote. You earn their vote. Continue reading...