Labor considers new tax to fund free university and dental care
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The Labor Party is set to debate a proposal that could pave the way for a new tax on gas exports, with economists saying it could generate between $4 billion and $17 billion a year.
The issue will be discussed at Labor’s national conference, where members will consider supporting a policy aimed at securing a greater return from Australia’s natural resources through changes to taxation.
Supporters of the proposal argue the extra revenue could help fund major public services, including dental care under Medicare, free university and TAFE, childcare, or income tax cuts.
Australia is the world’s second-largest gas exporter, but critics say the current Petroleum Resource Rent Tax (PRRT) does not always generate significant revenue because many companies can reduce or delay tax payments.
Independent MP David Pocock and several economists have called for reforms, arguing Australians should receive a larger share of the profits from gas exports.
However, industry groups have warned that introducing a 25% gas export tax could discourage investment, reduce future gas projects and increase energy costs.
Opposition Leader Angus Taylor rejected the idea, saying Australia should focus on increasing gas production rather than introducing new taxes.
Labor’s decision at this week’s conference could shape the party’s resource taxation policy ahead of the next federal election.
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Source : 9 News
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