Gabriel Ng (Menzies, Australian Labor Party) Share this | Hansard source

I rise to speak against this motion. I recognise that Australians want and deserve a fair return on our natural resources. I recognise that there is support in the community for a 25 per cent gas tax—and, indeed, many people in my local community in Menzies have spoken to me about it, when I've been out doorknocking and doing street stalls, and have also written to me about it. I appreciate them taking the time to engage with me and to make their views known, and I appreciate their advocacy.

The question of how Australia taxes its natural resources is a serious question; it deserves a serious answer. The harms caused by gambling are real; they deserve a serious response, too. But these issues deserve more than performative motions like these, that offer apparently simple responses to complex issues. Taxation of resources and gambling advertising deserve responsible, measured policy decisions, developed in consultation with experts and the workers and industries affected. And that's exactly what the Labor government is doing.

Let me start with gas. As I've said, I recognise that Australians want a better return on our natural resources that can go into social programs like Medicare and NDIS and the pension. Now, the mover of this motion, the member for Ryan, slings accusations about the gas lobby and corporate control, but she does this knowing full well that the government has already acted to increase taxes on the gas industry. In 2023, we reformed the petroleum resource rent tax. We tightened deductions. We ensured that more tax is paid sooner by offshore gas companies. Not only that, but, more recently, we've announced our domestic gas reservation scheme. Multinational gas companies will be required to reserve 20 per cent of their production for domestic use. This will directly secure supply for Australian households and businesses and put downward pressure on power bills.

The idea of an east coast gas-reservation scheme is something that there have also been public campaigns around—probably from some members of the Greens political party. We've listened to our communities on this, we've consulted with experts and stakeholders, and now we're taking responsible action to ensure energy security and put downward pressure on domestic gas prices. We're committed to the renewable energy transition. But we understand that it will be backed by storage, by hydro and by gas, and that there are industries that rely on gas that will only be able to use this as a fuel source to continue to operate. As usual with the Greens, instead of being constructive and collaborative, they've moved on to the next eye-catching campaign.

As I said, I've engaged with many members of my community who support a 25 per cent gas tax, and I understand the appeal of this. Just this month, Labor senators on the Senate Select Committee on the Taxation of Gas Resources recommended that the government model and evaluate further reform options in the wake of the Middle East energy crisis. That recommendation came from members of this government, Labor members, just two weeks ago. So, when you, Member for Ryan, suggest that this government has simply rolled over to the gas lobby, you're not describing reality. You're describing a grievance that has already been decided upon and then working backwards from it. That's not policy; that's performance.

I understand why people want a bigger return on our natural resources. The question is how we get there responsibly, without compromising energy security, without jeopardising the supply agreements that keep petrol and diesel and fertiliser flowing to Australia, and without exposing this country to unnecessary risk in the middle of an international energy crisis.

There was a lot of support just before the budget for a 25 per cent gas tax, but good policy can take time to develop and understand the implications of. Of course we should consult with the workers and communities that would be affected by any changes. We should also consult with industry. It doesn't mean we have to accept everything that they have to say, but they should be listened to, and we need to understand their arguments. And we need to make sure that projects go ahead, to collect any gas tax at all. That means that it needs to be an environment that people can invest in.

We're operating in an environment of significant global instability. Conflict in the Middle East has tightened energy markets. Our regional partners depend on LNG supply agreements this country has committed to, and we can't expect our regional partners to go without the kind of energy resources that we also rely on. These commitments are not the gas industry's gift to us; they are part of a web of relationships that keep energy flowing in Australia. (Time expired)

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