Julie-Ann Campbell (Moreton, Australian Labor Party) Share this | Hansard source

They say that economics is about choices, and right now Australians are staring down the barrel of some pretty challenging choices—choices that no-one should have to make. Australians are hurting when it comes to the bowser, they're hurting when it comes to the checkout and they're hurting when they go to pay their bills. Cost of living is the No. 1 issue in this country. It's the No. 1 thing on people's minds every single day, and this is a government that chooses to focus on cost-of-living relief all the time. It's a government that has its eye firmly fixed on ensuring that everything we do is focused on giving the Australian people the relief that they need at a challenging time.

I think it's worth looking at what choices can be made on this side of the chamber and on that side of the chamber, because, while the Albanese Labor government has chosen to make sure that our fuel reserves are here in this country, in Australia—in Brisbane and in Victoria—the opposition chose to send those fuel reserves overseas, over to the other side of the world, on a different continent. While the opposition were in power, they closed down urea facilities. They chose to do that, and this government has chosen to invest in opening a new one. When the opposition were in government, they oversaw the closure of four out of six refineries, and the Labor government is now working to ensure that we underwrite international fuel purchases.

We've passed legislation to double penalties for petrol companies for price gouging to $100 million. We've released 20 per cent of Australia's fuel reserves, targeted at the regions where people need that fuel the most. We've temporarily changed petrol and diesel standards to get more supply into the market so that we can ease prices, and we've been engaging with international partners to keep that supply flowing. We've appointed the National Fuel Supply Taskforce Coordinator, Anthea Harris, and that role is to coordinate the federal government and states and territories on security and the supply chain, to update it on supply outlook and distribution, and to support state and territory governments to get fuels to their regions.

This is an incredibly serious issue. It's an issue that Australians are feeling every day at their hip pockets, and this government has chosen to have a plan and to take action on that plan to ensure that, when it comes to fuel, we are driving more supply to try and give relief to families who need it most.

More recently, we have seen an amendment to the Export Finance and Insurance Corporation Act to enable the government to underwrite the purchase of new fuel from international markets by the private sector. Export Finance Australia will allow fuel suppliers to enter contracts of insurance or indemnity, to give guarantees, to make loans or to enter arrangements needed to help secure supply from those international markets. Commonwealth powers will only be used to help acquire additional supply for fuel security and where cost would be prohibitive for private suppliers to source on commercial terms without government support.

There is no doubt that fuel is impacting families. There is no doubt that fuel is impacting the movement of goods that Australians need. And there is no doubt that something needs to be done about it. That is why this Albanese Labor government is focused on getting fuel into the country, on keeping fuel in the country, on driving up supply and on cracking down on those who seek to take advantage of a difficult situation for so many. This Labor government is focused on making that a reality and taking action on that plan.

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