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Australia & Oceania·Trade & Economy

Australia's Labor government set to reject proposed 25% gas export tax ahead of budget

Friday, 24 April 2026, 06:37 · 1 min read

Australia's ruling Labor government is poised to abandon a proposed 25% tax on gas exports in the upcoming federal budget, with trade minister Don Farrell stating the government is "not changing our policies in respect to gas." The decision, driven in part by the global oil crisis and Prime Minister Anthony Albanese's diplomatic push to secure fuel supplies from Asian partners, has drawn sharp criticism from independent senator David Pocock and the Greens, who accused the government of siding with major gas corporations over ordinary Australians. Smaller reforms, such as changes to the petroleum resources rent tax or a windfall profits levy, have not been entirely ruled out, but campaigners warn the move foregoes an estimated $17 billion in annual revenue that could fund social programmes including increased unemployment benefits.

Sources
The GuardianAnthony Albanese accused of ‘caving to gas companies’ as Labor set to reject new export tax ↗︎The GuardianAustralia news live: US approves first major Aukus submarine contract; Harvey Norman facing class action for alleged ‘misleading’ ads ↗︎
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