Prime Minister ScottMorrisonMP is under pressure to cut the petrol excise as the war drives up global oil prices. Fuel excise revenue is due to increase from $19.2 billion this financial year to $20.8 billion next year | CroweDM
this Saturday, said his government would do more to cut the cost of living but needed federal intervention as well.“It doesn’t need to be permanent but while we’re in this elevated fuel price situation we’d really like to see some relief coming from the federal government.”
The net proceeds from excise are lower, however, when tax deductions such as the diesel fuel rebate are taking into account. “For liberal and free nations, this is a price that we must be willing to pay for the right to live free of fear and coercion.” But with some economists tipping inflation of 5 per cent, twice the rate Treasury estimated last December, the government will be under greater pressure to show how its March 29 budget can support household incomes.
“Australians know me and they know that I’m pretty resilient. But more importantly, the key answer to that question is because Australians need a strong economy because Australians need to see those jobs because Australia needs a government that knows how to stand up to the threats that we face. And that’s what I’ve demonstrated.”
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