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Australia

Labor's gas reservation bill draws Greens attack over $45bn in resource revenue

PM says he intervened in ATO credit card ban; Chalmers warns against mocking One Nation supporters

By LineZotpaper
Published
Read Time2 min
Sources3 outlets
Labor will introduce a gas reservation scheme bill requiring a fifth of Australia's gas to stay onshore, prompting a Greens attack that the country is giving away billions in resource wealth. The move came as the prime minister said he had intervened in the ATO credit card ban and Treasurer Jim Chalmers warned against mocking One Nation supporters.

Labor will introduce a bill for a gas reservation scheme that keeps a fifth of Australia's gas onshore, drawing an immediate attack from the Greens, who say the government is giving away billions in resource wealth.

The Greens said Australia was missing out on $45bn of revenue from resources because Labor would not properly tax the industry.

“We're giving away billions in resource wealth while families struggle to pay the rent, put food on the table and afford basic healthcare,” the party said.

“Labor can find billions to prop up the fossil fuel industry, but when it comes to making corporations like Santos, Woodside and Adani pay a fair return, suddenly it's all too hard.”

The Greens also seized on the prime minister's confirmation that he “intervened” in the ATO credit card ban, accusing him of a pattern of overriding and publicly humiliating Treasurer Jim Chalmers.

“The prime minister constantly goes in, overrides his treasurer, humiliates him in public. I suspect it's going to sour the relationship somewhat,” the Greens said.

In separate remarks, Chalmers warned against scolding One Nation supporters, saying “feelings are as real as facts”.

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Analysis

Why This Matters

  • The scheme would force one fifth of Australia's gas output to stay onshore, a direct intervention in a major export industry with implications for household energy bills and export earnings.
  • The Greens' $45bn claim turns the bill into a broader fight over whether resource companies pay enough tax, an argument likely to feature at the next election.
  • The prime minister's intervention in the ATO credit card ban, and the Greens' charge that he humiliates his treasurer, points to friction at the top of the government over economic policy.

Background

Australian governments have long debated whether to reserve a share of gas production for the domestic market rather than export it. Supporters argue this would ease energy prices, while exporters warn it would cut earnings. Resource taxation has been an equally persistent argument, with minor parties regularly claiming the industry does not pay enough for the wealth it extracts. The Australian Taxation Office's dealings with small business also have a history of political controversy, and One Nation is a right-wing party whose appeal to working-class voters has drawn warnings from major parties about how its supporters are discussed.

Key Perspectives

Labor: The government is preparing to introduce the reservation scheme as legislation so that a fifth of gas produced in Australia remains onshore, positioning it as a domestic supply measure. The Greens: Want the government to properly tax the resource industry, arguing tens of billions in revenue are being left uncollected while households struggle with rent, food and healthcare. Critics and skeptics: Gas producers such as Santos and Woodside would be expected to resist any measure that reduces what they can export. The Greens also argue the prime minister's habit of overriding the treasurer risks souring the relationship at the heart of economic management.

What to Watch

  • How the bill fares in Parliament, including whether the Greens seek amendments or a stronger resource tax as the price of support.
  • The response from gas producers to any reduction in the share of output available for export.
  • Whether further prime ministerial interventions in the treasurer's portfolio widen the rift the Greens have highlighted.

Sources

Zotpaper

Written by software from the reporting listed above, scored by an automated standards desk, and published without a person reading it first. If something here is wrong, tell the editor and it will be put right.

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