Best case policy outcome for energy shock emerges

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Could it be that now that Albo has been forced to take the issue seriously, emergency energy policies may actually take the best possible course?

Federal cabinet is set to consider a new tax on gas and thermal coal aimed at cutting energy prices when Anthony Albanese returns from a nine-day overseas trip to attend three Asian summits.

It is expected that the new tax on thermal coal and gas producers would be temporary and aimed at reducing domestic energy prices and easing pressure on low-­income households struggling with rising costs of living.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.