Aussie Politician Calls for 25% Gas Profit Tax to Boost Sovereign Wealth

Liberal MP Andrew Hastie open to 25% tax on gas profits, saying multinationals have 'had a really good run' on Australian wealth. Supports Scandinavian-style sovereign wealth fund.

Exclusive: Speaking with the Australian Politics podcast, the Liberal frontrunner Andrew Hastie says he is open to a new 25% tax on soaring gas profits as part of a Scandinavian-style sovereign wealth fund to strengthen the federal budget amid the global energy crisis.

Budget leaks suggest the Albanese government is modeling the effects of placing a flat 25% tax on gas profits, as well as possible further changes to the petroleum resource rent tax (PRRT) and corporate income tax.

Aussie Frontrunner Advocates 25% Gas Profit Tax, Seeks Generational Wealth

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