Liberal frontbencher Andrew Hastie says he is open to a new 25% tax on soaring gas profits as part of a Scandinavian-style sovereign wealth fund to strengthen the federal budget amid the global energy crisis. Budget leaks suggest the Albanese government is modelling the effects of placing a flat 25% tax on gas profits, as well as possible further changes to the petroleum resource rent tax (PRRT) and corporate income tax. The moves by the Department of the Prime Minister and Cabinet and Treasury come at the same time as dire warnings about the economic fallout from the US and
Palestinian teenager was starved in prison before death, judge rules
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