The new Labor federal government says it will not extend the six-month cut in fuel consumption announced at the end of March this year, which is currently set to expire at the end of September. .
Deputy Prime Minister Richard Marles speaks on the Seven . network breakfast program dawn this morning, state clearly:
“We have made our position clear and we have no intention of changing that [temporary cut]. ”
Former Morrison Federal Government cut gasoline and diesel excise tax by 22 cents/liter in a move designed to beat record fuel prices – conveniently on the eve of the election campaign.
The flip side is that the tax cuts already have an estimated $3 billion in excise tax denied to government coffers – much of it allocated to road transport projects.
Consumer watchdog ACCC later reported that the cuts were mostly passed down by fuel retailers.
The average price of RON 91 gasoline currently stands at $2 a liter nationally, while diesel is even higher – the ultimate point that forces the price of everything shipped by air.
Crude oil prices are now near $110 a barrel, down from March’s spike but up from less than $70 a barrel this time last year. The war in Ukraine is considered one of the main driving forces.
“We think there are other ways we can address the cost of living question. It’s a big deal, people are finding it harder to make a living,” said Mr. Marles.
“Finally, wages are going up [up] is the main game. Even doing practical things like making childcare more affordable is a really important step in trying to tackle the cost of living.
“But not for a moment, we hinted that we would be able to fix things overnight. You’ve lost a decade of productivity. You can’t fix that in a week. But you can start the project and we are starting that right now and we will put the country on the path to prosperity. ”
THAN: Government to cut fuel consumption by half in six months
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