Tax cuts will be ‘gobbled up’ by energy companies: Centre Alliance

Rex Patrick says he and his Centre Alliance colleague Stirling Griff aren’t ‘quite across the line yet’ when it comes to backing the government’s $158 billion tax package in the Senate, citing concerns around Australia’s gas market. ‘We can’t see any roadblocks, but there’s a few bumps that need to be smoothed out,’ he says. ‘What we’ve sat down and talked with the government about is a range of measures, both short-term and long-term, that will basically address supply measures here in Australia,’ Senator Patrick has told Sky News. He says ‘our concern is that the tax cuts will provide a disposable income to people that will simply get gobbled up by energy companies'. ‘We have a market failure in this country,’ he says, pointing to projections from the Australian Competition and Consumer Commission that gas prices are likely to rise. Image: News Corp Australia

from National | Daily Telegraph https://ift.tt/2Nn5NBE