Politics Now The gas tax squeeze
Apr 21, 2026
A heated debate over a gas profits tax and the forces driving it takes center stage. Tensions between fuel security and taxing windfall profits are explored. Political maneuvering around housing policy and big housing targets comes under scrutiny. The conversation highlights potential budget moves and the electoral risks of tax changes.
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Gas Tax Momentum Is Cross‑Political
- Momentum for a gas profits tax is broadening beyond activists to mainstream political figures and institutions.
- Patricia Karvelas lists Greens, Pauline Hanson, environment groups, bank chiefs and grassroots fundraisers as evidence of widening support.
Supply Security Limits Tax Room
- Political reality complicates taxing existing gas contracts because many suppliers are foreign state‑owned or tied to Asian governments.
- Raf Epstein notes some suppliers guarantee fuel imports, so taxing now risks supply security.
Albanese's Malaysia Line Was A Signal
- Raf Epstein recounts the PM's Malaysia line stressing Australia sticks to deals to signal reliability to trading partners.
- He ties that anecdote to concern that changing tax rules would spook governments and companies supplying diesel and petrol.