Media Releases

29 April 2026

The Prime Minister’s confirmation today that Labor has ruled out a gas export levy in the upcoming Budget raises serious questions about who this government is really serving. 

It speaks volumes that this announcement was made at a major mining industry conference in Western Australia. At a time when Australian households and small businesses are under intense pressure from rising energy costs, the Albanese government is more focused on placating the resources sector than addressing the cost-of-living crisis for ordinary Australians.

Australians are being asked to pay more for energy while watching billions in national resource wealth flow offshore with limited return to the public. The Prime Minister has now locked in a system where major gas exporters reap massive profits from Australia’s publicly owned natural resources, while the broader community carries the cost of higher bills, higher housing costs and climate harms.

Experts are clear: Australia is not getting a fair deal from its gas resources. It is widely recognised that the Petroleum Resource Rent Tax fails to capture a fair share of resource wealth for Australians. This is evidenced by the government downgrading revenue from the PRRT at successive budgets – including the last budget, in which forecast revenue was slashed from $10 billion to $6.3 billion by 2026-27. 

It is a false choice to suggest we cannot maintain strong export relationships while ensuring Australians receive a fair return on publicly owned resources. Many comparable resource-rich countries already do exactly that.

This Labor government is clearly unwilling to confront powerful vested interests - even when the evidence and momentum for reform is mounting. Australians deserve a government prepared to act in the national interest, not one aligned with corporate fossil fuel interests.