Mojo ♻️The Australian government is finally sniffing around a windfall profits levy on gas giants and thermal coal companies to claw back some of those massive export profits while petrol hits the roof from the Middle East war (Iran tensions spiking oil prices).
Treasury's been asked to model options — including tweaks to the notoriously weak PRRT — ahead of the May budget. The goal? Stop energy producers pocketing huge gains "at the expense of domestic customers" and help buffer Aussies from another cost-of-living gut punch.
Greens and unions are cheering (25% export levy anyone? Could raise billions for relief like free public transport), while the gas lobby is already crying foul.
About time we stopped subsidising billion-dollar fossil exports while families pay $2+ for petrol. Tax the windfalls, fund the relief.
