After months of secretive negotiations in which gas executives were forced to sign “unprecedented” non-disclosure agreements, Labor softens its price cap.
– that there would be a series of exemptions to the $12 cap, which will now extend indefinitely.
But the real problems begin on the government’s plans to manage the bigger producers, those extracting at least 100 petajoules per year, many of whom are focused on export markets.Labor says it will grant these players “conditional exemptions” to the price cap if they provide legally enforceable domestic supply commitments.
While clearly an improvement on what could have been, it will take time to determine whether the backdown will be enough for the big players to invest in Australia given their offshore alternatives.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Labor’s Defence Strategic Review is ‘frankly disappointing’: BirminghamShadow Foreign Affairs Minister Simon Birmingham says Labor undertaking the Defence Strategic Review is “frankly disappointing” as items in the review would not be possible without the previous Coalition upping defence spending. “It is frankly disappointing that the government … is undertaking this strategic review but ultimately what they are doing is shifting money off of a budget that was created by the former Coalition government,” Mr Birmingham told Sky News Australia. 'We grew defence spending from 1.56 per cent of GDP up to two per cent of GDP … none of the things that are being talked about in the DSR would be possible had we not done that.'
Read more »
'Disrespectful': Labor slammed for releasing Defence Strategic Review on Anzac Day eveShadow assistant defence minister Phil Thompson has lashed the federal government as 'out of touch' after it released the Defence Strategic Review on the eve of Anzac Day and on a significant anniversary for one of the combat units facing severe cuts.
Read more »
Labor MPs join growing calls to increase the doleFour federal Labor MPs have broken ranks to join calls for the government to increase JobSeeker payments by $24 billion. The government may shift a little.
Read more »