Matt Saunders has published widely on a diverse range of subjects including climate change, superannuation, taxation, the federal Budget, free-trade agreements, and more. He is a Senior Economist at the Australia Institute.
Preliminary analysis shows that Australian taxpayers are set to miss out on $16 billion in gas export tax revenue over the next 12 months. While the Budget includes a $100 million upward revision in Petroleum Resource Rent Tax (PRRT) revenue for 2026-27, on the back of $63.9 billion in gas exports, it is microscopic compared to the $16 billion that could be raised with a 25% tax on gas exports.
Taxpayers wear a significant share of the cost of cleaning up old mines
As Christmas is the season of giving, it is perhaps an opportune time to check how much – or how little – the fossil fuel industry actually contributes to the Australian economy and government revenues that fund essential public, community and welfare services.
Ed Husic’s ‘breaking ranks with Labor’ speech in parliament yesterday which claimed gas exporters are profiteering from Australians and driving up domestic energy prices, is right on the money and well backed by the data.
Australia’s exports of fossil fuels are not only increasing emissions across the world, they are also becoming a larger share of our domestic emissions.
