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Andrew Hastie Advocates 25% Gas Profits Tax Amid Concerns

3/26/2026

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Summary

Story summary

Liberal frontbencher Andrew Hastie signaled openness to a 25% tax on gas profits to fund a sovereign wealth fund.
He cited community concerns about resource giants’ profits and the need to carefully manage natural resource revenue.
The tax is backed by the Greens and others and faces opposition from gas companies.
Shadow treasurer Tim Wilson criticized the idea as deterring investment.

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Story summary

Liberal frontbencher Andrew Hastie signaled openness to a 25% tax on gas profits to fund a sovereign wealth fund.
He cited community concerns about resource giants’ profits and the need to carefully manage natural resource revenue.
The tax is backed by the Greens and others and faces opposition from gas companies.
Shadow treasurer Tim Wilson criticized the idea as deterring investment.