Today on the New Politics podcast, we look at the stalled debate over a 25 per cent gas export tax in Australia and why meaningful tax reform continues to be blocked despite overwhelming economic logic and growing public support. As Senate Estimates hearings revisit the idea of taxing mineral and gas exports, voices like Konrad Benjamin from Punter’s Politics and former Treasury Secretary Ken Henry cut through the noise with a blunt message: Australia is getting a bad deal on its natural resources, and the government needs to act and “stop the crap”.
A gas export tax could raise around $20 billion per year in revenue – funding desperately needed investment in health, education, the NDIS, housing, and public services – yet remains politically sidelined due to the influence of the gas lobby, energy companies, and entrenched vested interests across the property and finance sectors. The Henry Tax Review was a missed opportunity to transform Australia’s tax system more than a decade ago, with estimates suggesting the federal budget could be tens of billions stronger each year if those reforms had been implemented.
We explore the broader political failure to tackle structural reform, including the ongoing hesitation around negative gearing changes, and question whether the Albanese government has the political courage to act while it holds a strong electoral position. With the federal Budget approaching, we’ll soon find out if Australia is once again about to miss its window for reform, or whether decisive leadership can finally deliver a fairer tax system that ensures Australians benefit from their own resources.
