Helen Polley (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

My question is to Minister representing the Minister for Climate Change and Energy, Senator Ayres. Global energy market supply chains remain disrupted, and, in response, National Cabinet met today to coordinate future planning and action. The Albanese Labor government recently announced new powers for Export Finance Australia to underwrite imports. Can the minister please update the Senate on these new powers and explain how they will help secure fuel supply?

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

Thank you, Senator Polley, for that question. The Albanese Labor government is acting to shield Australia from fuel and supply chain shocks—in this case, as the question points out, by giving Export Finance Australia the power to underwrite additional cargoes of fuel and other strategic products, including, of course, fertiliser. The bill to give EFA that power will be introduced into the House today. That additional supply will help address regional shortages and fill critical supply gaps, in particular in fuel and in fertiliser. We are squarely focused on additional supply not just for fuel but for fertiliser in particular. That is consistent with all of the other measures that this government has undertaken, including, I must say, the intervention that the government made into Glencore's copper smelter facility in Mount Isa, which meant that the Dyno Nobel Phosphate Hill facility is not closing in two days time but is continuing to operate as Australia's only current domestic producer of fertiliser products.

We are not replacing or undercutting the operation of the domestic market. We are making sure that private suppliers can secure additional shipments themselves that are otherwise too risky to order. EFA will use its deep expertise in insurance and indemnity, commercial guarantees and loans to de- risk those additional shipments and to deliver supply in fuel and fertiliser terms in particular for regional Australia.

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

Senator Polley, first supplementary?

Helen Polley (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

Thank you for that reassuring answer, Minister. Can the minister please update the Senate on other actions agreed at National Cabinet? How will they increase our fuel security and help protect households and businesses?

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

Thanks again, Senator Polley. Minister Wong earlier described the national fuel security plan that was adopted by National Cabinet this morning. That is about making sure that Australia has one plan for fuel security, not nine plans for fuel security. The Albanese Labor government made additional announcements today, halving the fuel excise, which will lower the cost of fuel for households and businesses, for ordinary Australians, because we understand that Australians and Australian businesses and Australian farmers are under pressure. We're also lowering the heavy vehicle road user charge to zero for three months and will delay the planned increase in that charge by six months. This will help trucking firms with immediate fuel costs and ensure that they continue— (Time expired)

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

Senator Polley, second supplementary?

Helen Polley (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

The Albanese Labor government is coordinating with state and territory governments on fuel security and has prioritised clear, consistent planning to protect Australians from global fuel supply shocks, showing leadership. Why has the government chosen this approach?

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

This conflict is an unprecedented shock to global energy markets, and, the longer it goes on, the more significant its impacts on Australians. Of course, in that context, Australians are looking to the governments for reassurance. The outlook is uncertain. Fuel prices have been rising for all Australians, and some farmers, businesses and regional communities are experiencing shortages. That means governments must be clear with Australians, explain what is happening and give a measured assessment of risks. That's why we have convened National Cabinet. That's why the Prime Minister and other ministers have been explaining clearly and calmly what our approach is. All of the measures that have been undertaken in sequence over the course of the period since this conflict has started have been in the national interest, have all been about— (Time expired)