Gas export tax: Vote at Labor conference could lead to new $17 billion tax - which could raise enough for free uni or dental in Medicare
The Australian Labor Party is debating a potential 25% gas export tax that could generate up to $17 billion annually. Proponents argue the revenue could fund major social programs like dental care in Medicare or free university education.
Why it matters
It highlights a significant economic policy debate regarding the taxation of natural resources and the potential for funding public services.
- 7.40pm . First published at 7.28pm
shares Share article The Labor Party is on the verge of deciding whether it will support a gas export tax that economists say could generate enough money to fund dental in Medicare or free university for every Australian .
Labor figures will debate whether to give Australians a “fairer return from their natural resources including through appropriate taxation arrangements” at the party’s 50th annual conference which begins on Thursday, as momentum grows to charge gas companies on their exports.
Anthony Albanese arrives at a fundraiser on Wednesday night ahead of the 50th Australian Labor Party conference in Adelaide. Dominic Lorrimer
Economists estimate introducing a 25 per cent gas exports tax could raise between $4 billion and $17 billion each year.
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