Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

Mr Speaker, I hope it's okay that I also shout-out the National Schools Constitutional Convention friends who've joined us today. I thank the member for Macarthur for his question. As a wonderful local member in an outer-metro community a bit like mine, I know that he understands the pressures that people are feeling right around Australia.

Australians are under cost-of-living pressure, and the conflict in the Middle East is adding to that pressure. We recognise that, and, more than recognising that, we're taking action to help address it. Tomorrow, as the Minister for Climate Change and Energy said, we'll introduce new legislation to help consumers get a fair go at the petrol pump, with bigger penalties for misconduct in the fuel sector.

The conflict overseas is no excuse for suppliers or servos to take advantage of Australians. We are putting the petrol companies on notice. Our new laws will double the penalties for false or misleading conduct and cartel behaviour to a maximum of $100 million per offence. That means bigger penalties for any servos and suppliers that rip off Australian motorists. It's on top of all of the other action we're taking to address fuel affordability and security, supporting our refineries, as the minister said; boosting fuel supply; getting more fuel into the market; working with industry and international partners; and empowering the ACCC.

Late last year we also legislated to strengthen Australia's fuel security, and the explanatory memorandum of our legislation said, 'It would ensure the government is well placed to efficiently respond to potential shortages of critical fuels.' The bill amended the Minimum Stockholding Obligation to help us manage critical fuel shortages. It facilitated more information gathering. It was about fuel related products critical to Australia's trucking industry, diesel exhaust fluid and technical grade urea. It was all about making sure that we could respond to situations like this.

I remind the House that those opposite voted against fuel security at the end of last year. They had the opportunity to support some sensible measures to make it easier for Australia to deal with and respond to threats to our fuel security, and they voted against it. I call on them to not make the same mistake again when it comes to bigger penalties for servos and suppliers who are doing the wrong thing. We call on them to back this bill to put in place higher penalties for petrol companies and to protect motorists. Our legislation is all about a fair go for Australians at the petrol pump.

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