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Liberal frontbencher Andrew Hastie has told Guardian Australia he’s open to the idea of a 25% tax on gas profits as part of a sovereign wealth fund which could strengthen the budget.
“I think a lot of people, Australians, feel like the multinationals don’t have a social licence, that they’ve had a really good run of our wealth here, and so I’m sympathetic to that point of view,” Hastie said.
“I just know how important those industries are to Australia, so I’d want to get it right. So, I guess I’m open-minded about those questions.”
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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.