Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

I repeat, Senator Johnston: this measure will have no impact on the price of LPG, petrol, diesel or similar products, since these are all traded on the global spot market. It will have no impact on Western Australian revenues. Excise payments are of course being deducted from the royalties that Western Australia receives from the North West Shelf gas project. The North West Shelf gas project is firmly established—I repeat: firmly established—and now, 24 years after the project was established, it is time to end this incentive which was made at the point of its establishment. It no longer needs this massive subvention from Australian taxpayers. Legislation giving effect to this change will be introduced in the House of Representatives today. All government legislation, as I am sure Senator Johnston is only too well aware, will be carefully scrutinised by the Office of Parliamentary Counsel and, where necessary, the Australian Government Solicitor, to ensure its constitutionality. (Time expired)