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Gas Tax Debate: Minister Shuts Down New Tax
Description
Australias Resources Minister, Madeleine King, and Prime Minister Anthony Albanese, have reaffirmed the governments stance against a new gas export tax, emphasizing the importance of maintaining domestic supplies and attracting foreign investments. Opposition spokesperson, Susan McDonald, argues that opening more gas reserves would yield more long-term revenue than imposing a 25% export tax. Gas companies, including Woodside, Chevron, Santos, and INPEX, are preparing for a Senate hearing, warning that additional taxes could increase risks, eliminate jobs, and make Australia less attractive to investors. Meanwhile, independent MP Allegra Spender advocates for gas firms to pay proper income tax on their profits from Australian resources.
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