Latest news with #ChrisBowen
Daily Mail
2 days ago
- Business
- Daily Mail
What other things Jim Chalmers could tax as Aussies face big slugs - on top of booze, tobacco, property... (the list goes on!): PETER VAN ONSELEN
Labor is back in power for at least another three years - given the size of its thumping election victory it's more staying there for another six years at a minimum. And with that certainty comes instant talk of new taxes, despite election commitments to the contrary. Labor's climate and energy spokesman, Chris Bowen, has said that he's open to a carbon tariff on certain products to help Australia meet its 2030 emissions targets. Labor backbencher and medical doctor Mike Freelander wants a sugar tax to help tackle obesity and diabetes. Then there is the super tax set to be legislated when parliament returns at the end of July. This new tax was at least part of Labor's election manifesto, even if it was hardly a central issue during the campaign. And there is speculation that negative gearing concessions and perhaps even the capital gains tax (CGT) break too are up for discussion. The problem with all of the above isn't that changes to the tax and spend system should be off limits. It's not even that most of the options being looked at weren't flagged at the election, or that a number of them were specifically ruled out. The real issue is that what is being looked at is piecemeal and not part of a proper tax reform package that balances tax increases with tax cuts, thereby improving the efficiency of the system at the same time as ensuring that government taxes and spending don't just keep increasing. The pre-election budget already highlighted that the tax-to-GDP ratio is at near record levels, with spending as a percentage of GDP even higher. The government uses the latter to justify more taxes, rather than as a reason to stop the record spending because it's unsustainable. I have no problem in principle with sin taxes such as on sugary products. They mirror other sin taxes on tobacco, alcohol or on industry designed to push down emissons. There is a logic to such a shake-up, as long as cutting other taxes forms part of the discussion. But Australia has shied away from wholesale tax reform ever since Kevin Rudd ignored many of Ken Henry's recommendations in his 2009 tax reform paper, and when Malcolm Turnbull junked the tax and federation white papers Tony Abbott commissioned before losing the prime ministership in a coup. Boomers with more than $3million in super are set to be slugged if the government can get its proposal past the Senate at the end of July Instead these taxes are embraced not as part of a wider review to improve efficiencies and better target who and what to tax, but as a simple revenue grab to keep chasing growing spending which needs to be reined in. The design of the superannuation tax will, in decades to come, turn it into a virtual inheritance tax, given that it's not indexed and will over time engulf many more Australians ' super savings than it will at the point of implementation. The flagging of other taxes to be debated and likely introduced in coming budgets is a sign that Labor is confident in its victory. The size of its victory will neuter the Coalition for years to come. But that confidence should extend to emulating the reforming credentials of the Hawke and Howard administrations. Reforming the GST is another area of tax that needs to be looked at, again with tax cuts in other areas (such as on income taxes for example) as part of the discussion. Let's hope that the growing calls within Labor for higher taxes isn't just as a case of Labor's back - and so are the taxes.
The Advertiser
3 days ago
- Business
- The Advertiser
Carbon tariff on the table for overseas businesses
Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields. Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields. Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields. Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target but that the nation needed to do more to achieve it. Asked if a carbon tariff - a tax charged on imports - was still a prospect, Mr Bowen flagged particular sectors were being considered. But consultation with Australian industry was still underway, he added. "I've had lots of meetings with steel makers and cement makers about these things over the past 12 months ... getting their feedback, and we'll have more to say during the course of this term," he told the ABC on Sunday. Mr Bowen said gas giant Woodside will be required to ensure the North West Shelf project meets net-zero emissions by 2050. Woodside hosts Australia's biggest gas export plant, and last week was given approval by the Albanese government to keep operating until 2070. The move has been slammed by environmental groups. "In effect, all the facilities covered, the more than 200 facilities covered by the safeguard mechanism are obliged to have a pathway to net-zero," the minister said. The mechanism is a policy designed to limit emissions at Australia's largest industrial facilities in line with the nation's climate targets. Religious leaders in Western Australia have expressed their disappointment at the 40-year expansion given to the energy giant. Reverend Ken Devereux, from the Australian Religious Response to Climate Change, said the next test for the government was to make sure the Browse project does not go ahead. Woodside has been trying to get environmental approvals for the $30 billion Browse gas project off the Kimberley coast since 2018. "We believe that moral and ethical choices for the greater good for humanity and creation need to take precedence over the benefits to fossil fuel corporations and the short-term economy," Rev Devereux said. Asked if approving gas projects would make it harder for Australia to win a global climate summit it is bidding to co-host with Pacific Island nations next year, Mr Bowen said these decisions would always be controversial. "I don't deny that, but we'll always set Australia's domestic policy in Australia's domestic best interest," he said. "There's a great opportunity for our country, (it) restores Australia's leadership in climate against the bad years of the decade of denial and delay, (and) shows we're back in a very meaningful way". Turkey is also bidding for the climate talks, with the energy minister hopeful the issue is resolved soon. Mr Bowen said Australia remains on track to reduce emissions by 43 per cent by 2030, despite a small increase in emissions last year. He also ruled out a retrospective domestic gas reservation policy to existing fields.
Perth Now
3 days ago
- Business
- Perth Now
Bowen accused of hiding carbon tariff
Chris Bowen has been accused of following 'Donald Trump's lead' over comments suggesting Australia could force carbon tariffs on emission-heavy imports. Mr Bowen didn't rule out enacting a carbon tariff on carbon-heavy sectors like cement and lime, stating that 'we'll have more to say during the course of this term'. He said decisions would be made to 'ensure Australian industry is best placed to complete in a decarbonising world'. 'I'd urge against sweeping generalisations about policy settings,' he told the ABC on Sunday. 'What could be the case is obviously we look at particular sectors first, around cement and lime are places that we've looked at in particular, but again, I'm not going to get in front of the process.' Energy Minister Chris Bowen didn't rule out the potential for Labor to enact a carbon tariff in its second term of government. NewsWire/ Martin Ollman Credit: News Corp Australia Mr Bowen also referred to the Carbon Leakage Review which was conducted by Professor Frank Jotzo. Initial findings backed a border carbon adjustment mechanism that would make importers pay for the carbon created during production, identifying at-risk commodities like cement, lime and clinker, and moderate risk products like steel, glass and ammonia. 'We asked Professor Jotzo to look at this, he's been doing excellent work consulting Australian industry very heavily,' he said. 'I've had lots of meetings with steel makers and cement makers about these things over the past 12 months, for example, getting their feedback, and we'll have more to say during the course of this term.' Newly installed Coalition energy and emissions reduction spokesman Dan Tehan seized on Mr Bowen's comments. 'Now before the election, Chris Bowen, this arrogant minister, said nothing about carbon tariffs, and yet, here he is immediately after the election, talking about putting them in place,' he said in a video shared on social media. 'Now let's have a look at what this minister has presided over. He's put our energy security at risk. He's put electricity prices up, he's put gas prices up, and he's put emissions up, and now he wants to follow Donald Trump's lead and put in place tariffs. What a mess.' The Coalition's new energy and emissions reduction spokesman Dan Tehan accused Labor of springing the tariffs without seeking a mandate. NewsWire/ Martin Ollman Credit: News Corp Australia Appearing on Insiders, Mr Bowen also maintained that Australia is 'by and large on track' to meet our 43 per cent 2030 emission reduction targets, despite figures released on Friday revealing that emissions had increased year-on-year by 0.05 per cent. While Mr Bowen conceded Australia needed to 'do more' to reach net zero by 2050, he said output from renewables were 'very encouraging,' while transport remained an issue. 'Now our new vehicle efficiency standards only came into force on 1 January, for example. I wouldn't pretend that they've yet had an impact,' he said. 'These are the sorts of things that we need to keep going on to ensure that we can achieve and will achieve a 43 per cent emissions reduction, which I'm very confident we can and will.'
West Australian
3 days ago
- Business
- West Australian
Energy Minister Chris Bowen doesn't rule out carbon tariff on high emissions producing imports
Chris Bowen has been accused of following 'Donald Trump's lead' over comments suggesting Australia could force carbon tariffs on emission-heavy imports. Mr Bowen didn't rule out enacting a carbon tariff on carbon-heavy sectors like cement and lime, stating that 'we'll have more to say during the course of this term'. He said decisions would be made to 'ensure Australian industry is best placed to complete in a decarbonising world'. 'I'd urge against sweeping generalisations about policy settings,' he told the ABC on Sunday. 'What could be the case is obviously we look at particular sectors first, around cement and lime are places that we've looked at in particular, but again, I'm not going to get in front of the process.' Mr Bowen also referred to the Carbon Leakage Review which was conducted by Professor Frank Jotzo. Initial findings backed a border carbon adjustment mechanism that would make importers pay for the carbon created during production, identifying at-risk commodities like cement, lime and clinker, and moderate risk products like steel, glass and ammonia. 'We asked Professor Jotzo to look at this, he's been doing excellent work consulting Australian industry very heavily,' he said. 'I've had lots of meetings with steel makers and cement makers about these things over the past 12 months, for example, getting their feedback, and we'll have more to say during the course of this term.' Newly installed Coalition energy and emissions reduction spokesman Dan Tehan seized on Mr Bowen's comments. 'Now before the election, Chris Bowen, this arrogant minister, said nothing about carbon tariffs, and yet, here he is immediately after the election, talking about putting them in place,' he said in a video shared on social media. 'Now let's have a look at what this minister has presided over. He's put our energy security at risk. He's put electricity prices up, he's put gas prices up, and he's put emissions up, and now he wants to follow Donald Trump's lead and put in place tariffs. What a mess.' Appearing on Insiders, Mr Bowen also maintained that Australia is 'by and large on track' to meet our 43 per cent 2030 emission reduction targets, despite figures released on Friday revealing that emissions had increased year-on-year by 0.05 per cent. While Mr Bowen conceded Australia needed to 'do more' to reach net zero by 2050, he said output from renewables were 'very encouraging,' while transport remained an issue. 'Now our new vehicle efficiency standards only came into force on 1 January, for example. I wouldn't pretend that they've yet had an impact,' he said. 'These are the sorts of things that we need to keep going on to ensure that we can achieve and will achieve a 43 per cent emissions reduction, which I'm very confident we can and will.'
News.com.au
3 days ago
- Business
- News.com.au
Energy Minister Chris Bowen doesn't rule out carbon tariff on high emissions producing imports
Chris Bowen has been accused of following 'Donald Trump's lead' over comments suggesting Australia could force carbon tariffs on emission-heavy imports. Mr Bowen didn't rule out enacting a carbon tariff on carbon-heavy sectors like cement and lime, stating that 'we'll have more to say during the course of this term'. He said decisions would be made to 'ensure Australian industry is best placed to complete in a decarbonising world'. 'I'd urge against sweeping generalisations about policy settings,' he told the ABC on Sunday. 'What could be the case is obviously we look at particular sectors first, around cement and lime are places that we've looked at in particular, but again, I'm not going to get in front of the process.' Mr Bowen also referred to the Carbon Leakage Review which was conducted by Professor Frank Jotzo. Initial findings backed a border carbon adjustment mechanism that would make importers pay for the carbon created during production, identifying at-risk commodities like cement, lime and clinker, and moderate risk products like steel, glass and ammonia. 'We asked Professor Jotzo to look at this, he's been doing excellent work consulting Australian industry very heavily,' he said. 'I've had lots of meetings with steel makers and cement makers about these things over the past 12 months, for example, getting their feedback, and we'll have more to say during the course of this term.' Newly installed Coalition energy and emissions reduction spokesman Dan Tehan seized on Mr Bowen's comments. 'Now before the election, Chris Bowen, this arrogant minister, said nothing about carbon tariffs, and yet, here he is immediately after the election, talking about putting them in place,' he said in a video shared on social media. 'Now let's have a look at what this minister has presided over. He's put our energy security at risk. He's put electricity prices up, he's put gas prices up, and he's put emissions up, and now he wants to follow Donald Trump's lead and put in place tariffs. What a mess.' Appearing on Insiders, Mr Bowen also maintained that Australia is 'by and large on track' to meet our 43 per cent 2030 emission reduction targets, despite figures released on Friday revealing that emissions had increased year-on-year by 0.05 per cent. While Mr Bowen conceded Australia needed to 'do more' to reach net zero by 2050, he said output from renewables were 'very encouraging,' while transport remained an issue. 'Now our new vehicle efficiency standards only came into force on 1 January, for example. I wouldn't pretend that they've yet had an impact,' he said. 'These are the sorts of things that we need to keep going on to ensure that we can achieve and will achieve a 43 per cent emissions reduction, which I'm very confident we can and will.'
