Lisa Darmanin (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Finance. Today at National Cabinet, the Albanese Labor government brought together state and territory leaders to further respond to the fuel crisis stemming from the conflict in the Middle East. Can the Minister please update the chamber on the announcements made following the National Cabinet. Further, what is the government doing to ensure that we are set up to respond to a rapidly changing geopolitical and economic environment?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I thank Senator Darmanin for the question and the opportunity to update the Senate, in addition to Senator Wong's contributions during question time today, about the important meeting that was held this morning—the second meeting of National Cabinet since this conflict began—and the decisions and actions that have been taken as a result of it.

There are a number of things that have happened since the conflict began. Obviously, we've passed new laws to double penalties for petrol companies that engage in price gouging, misleading conduct or cartel behaviour. We've released 20 per cent of Australia's fuel reserves, targeted to ease pressure—particularly in regional markets—and to protect supply for critical users. We've temporarily adjusted petrol and diesel standards to increase available supply and to keep fuel moving through the system. Importantly, we've engaged with international partners and suppliers to support continued shipments and strengthen supply-chain resilience. That's an important part of our response, and, of course, it has been supported by the work that we've done in strengthening relationships with international partners since coming to government, led by Senator Wong and Senator Farrell, in addition to other ministers.

We've appointed Anthea Harris as the national Fuel Supply Taskforce Coordinator to drive whole-of-government coordination with states and territories, industries and key stakeholders. We've provided some additional support in financial counselling support for impacted farmers because we know that there are certainly pressures that land very hard in the regions.

Today, the Albanese government has taken further action by cutting the fuel excise by half and reducing the heavy vehicle road user charge to zero for three months. We've also introduced bills to ensure the government can respond quickly to urgent and unforeseen fuel security challenges that may arise between now and when the parliament resumes.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Darmanin—first supplementary?

Lisa Darmanin (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

Today the Albanese Labor government introduced bills to ensure that the government can take action if needed to source fuel from around the globe for use at home here in Australia. How will this ensure fuel supplies arrive in Australia?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

Guaranteeing supply and doing everything we can, using every possible avenue, to ensure fuel supply across the country has been central to the work that the Prime Minister has been leading, along with other ministers, over the last five weeks.

In terms of the bills that have been introduced, there are amendments to enable EFA to support industry to source cargoes overseas. There are also, through the EFIC Act being introduced today, measures that will ensure a joined-up approach to scaling production and distribution at home and sourcing fuel from overseas. In addition to that, we have introduced a bill to increase the advance to the finance minister by an additional $2 billion to provide flexibility to support fuel security response measures and related expenditure where funding needs cannot be met through existing appropriations up to 30 June.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Darmanin—second supplementary?

Lisa Darmanin (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

The National Fuel Security Plan agreed at National Cabinet today sets out clear stages to manage access to fuel as this international conflict continues. How has today's National Cabinet ensured that leaders across the country are working together to provide cost-of-living assistance and planning for the future?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

Today, National Cabinet brought all of our governments' first ministers together to drive a coordinated response led by the Prime Minister to manage demand and prioritise supply. National Cabinet agreed to: encourage Australians to only use the fuel they need—and I think it would be great if other political leaders supported that approach; create a four-stage plan to manage domestic fuel security; continue to monitor demand and supply nationally; track shipments in transit and watch for emerging regional pinch points; continue engagement with international partners in working with industry so additional cargoes can be secured and directed to critical gaps if needed; continue contingency planning with states and territories; and stand ready to take further action to safeguard Australia's fuel security. Any shift in level will be signalled by the National Cabinet, including through consultation with relevant industries and sectors to ensure these measures work efficiently. (Time expired)

Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Link to this | Hansard source

I ask that further questions be placed on the Notice Paper.