Labor and the Greens are preventing a Senate inquiry into a new tax on major energy and infrastructure projects. The new tax, buried in a treasury bill, would increase the tax on foreign investment in infrastructure projects – like oil pipelines, solar panels, fertiliser plants, and batteries.
“Labor don’t want you to know what this tax will do to jobs, investment, and power prices. That must mean they know it will cost jobs and increase power prices,” Shadow Treasurer Tim Wilson said.
“Foreign investors should pay their fair share. But Australians deserve to know what this tax will mean for them. We already have unemployment rising, rents soaring, and energy costs out of control.”
Shadow Assistant Treasurer Kevin Hogan said the tax would threaten projects the Prime Minister himself has championed and that are needed to protect Australia’s sovereign capability.
“The proposed WA oil refinery. Urea plants needed for fertiliser. Gas in the Beetaloo. This tax threatens all these projects that are critical to our sovereign energy and food security,” Mr Hogan said.
“This is another tax increase the Government is rushing through without proper scrutiny.”
“We need an inquiry to ensure this isn’t another tax blunder like their widows’ tax.”
