New poll shows support for gas export tax across political spectrum

New polling has revealed that One Nation and Greens voters strongly support a 25 per cent tax on gas exports.

The idea was suggested by the Australian Council of Trade Unions last year, and this polling confirms there is support across party lines.

Australia Institute research shows a 25 per cent tax on gas exports could raise $17 billion every year, while incentivising producers to prioritise the supply of gas to domestic customers.

The poll, conducted by the RedBridge Group, comes ahead of the Farrer by-election, which will be announced once former Liberal leader Sussan Ley formally resigns from parliament.

“This polling shows that Australians from all walks of life and across the political spectrum believe the country is not receiving a fair deal from the gas export industry,” said Dr Richard Denniss, co-CEO of the Australia Institute.

“There is clear and overwhelming support for action.”

The issue of gas exports became a national issue once again when Independent Senator for the ACT David Pocock raised that Australians pay more tax on beer than the gas industry pays on gas exports.

“How do we live in a country, one of the biggest gas exporters in the world, and we’re getting more tax from beer than PRRT?” Senator Pocock asked.

The polling showed that One Nation voters were more likely than the Greens to agree that Australia exports too much gas.

“Australia is one of the world’s largest exporters of liquefied natural gas,” said Dr Denniss said.

“But while Norway, Qatar and Saudi Arabia grow wealthy from selling their gas, the Australian Government collects more revenue from taxing beer, cigarettes and even HECS repayments than it does from the Petroleum Resource Rent Tax.

“We only get to sell our natural resources once and when governments fail to secure a fair return for Australians, we all miss out.

“In Norway, gas exports are taxed heavily and university education is free. In Australia, we export the majority of our gas while young Australians face significant university debt.”

Nobel Laureate Joseph Stiglitz has also urged the Australian Government to “follow the money” and start imposing a “a very, very high tax rate” on the country’s natural resources.

The former Chief Economist and Senior Vice President at the World Bank had some frank advice for Australia, saying it “seems foolish” that most multinational gas exporters pay no royalties and minimal tax.

“If you came to me when I was chief economist of the World Bank I would’ve given you clear, clear advice. And it’s the same today actually, it hasn’t changed,” he said.

“The first thing is auction off your resources for the highest value.

“Get the highest value from whoever can extract your resources.”