The solution to many of Australia’s ills – cost-of-living, inflation, the budget deficit, industry competitiveness – is so simple, it is a wonder why the coward Albanese Government fails to take action.
Each of these problems could be mitigated by two simple measures: 1) imposing domestic reservation on east coast gas (as exists in Western Australia); and 2) imposing a super profits tax on gas (and coal) exports benchmarked to pre-Ukraine prices.
Doing both would simultaneously bring down east coast gas and electricity prices, reducing inflation and cost-of-living pressures, making industry more competitive, and showering the federal budget in tens-of-billions of dollars in revenue.
