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Hastie Proposes 25% Gas Tax for Sovereign Wealth Fund

Published 1 week, 1 day ago
Description

Liberal MP Andrew Hastie proposes a 25% tax on high gas profits to establish a sovereign wealth fund, similar to Norways, amidst the energy crisis. The Albanese government is considering the idea, but it faces resistance from gas companies and potential internal party division. Despite concerns about investment and energy supplies, Hastie advocates for long-term planning of Australias resource future.

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