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Apparently, there will be no gas tax forthcoming from Albo’s cowards, as they will instead prioritise their desperate hunt for fuel.
A senior Labor source said both negative gearing and capital gains discount reforms were being actively considered ahead of a May budget, despite the Iran war forcing Jim Chalmers to limit his budget ambitions.
But a push within Labor to increase taxes on the gas sector looks set to go nowhere given the reluctance among senior ministers to upset Asian trading partners that Australia relies on for fuel.
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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.