“The ACTU’s proposal would not only provide a large boost to Commonwealth revenue that could vastly improve Australia’s health, education and housing, it would cut energy bills for Australian households and businesses by incentivising gas companies to supply more gas to Australians and in turn lower the price,” said Richard Denniss, Executive Director of The Australia Institute.
“Australia is one of the world’s largest exporters of gas, but the Australian government receives more from HECS repayments each year than it gets in revenue from the broken Petroleum Resource Rent Tax each year.”
“The introduction of a gas export tax would incentivise gas companies to supply more gas to the Australian market, bringing down both gas and electricity prices for Australian households and businesses.”
The Verdict: True
McManus’ claim that nurses pay more tax than oil and gas companies in Australia is TRUE.
Furthermore, the ACTU’s proposal for a 25% tax on gas export revenue would provide a significant boost to the Government’s funding for housing, would help to fix a broken tax system for oil and gas exporters, and provide enough funding for the government to do a lot of good.