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Ed Husic is asked about debate surrounding the petroleum resource rent tax.
The government’s PRRT proposal is to limit the proportion of income that can be offset by deductions to 90%.
Under a crossbench compromise offered to the government yesterday, the changes would sail through the Senate with the support of the Greens, the Jacqui Lambie Network and David Pocock if deductions cap is reduced from 90% to 80%.
Speaking to RN Breakfast, Husic said the government has inherited work commenced by the Coalition towards refreshing the PRRT and “it’s certainly interesting to see that the Coalition has not responded to what industry has said is that a fair deal”.
He also said that debates on what type of tax level should be brought in “preceded us well and truly generations before”:
We believe this is the right balance, [but] understand that people have different views. It’s now [at] a point for being able to get what we believe is a sizeable contribution, to get that locked down.
15m ago17.44 EDT
Australia should manufacture EV batteries to not ‘thoroughly’ depend on China, science minister says
Industry and science minister Ed Husic is speaking on RN Breakfast about how soon Australia could begin EV battery manufacturing.
Last week he visited Indonesia, who have set up an EV manufacturing plant outside of Jakarta. He said Indonesia has large stores of nickel and Australia has large stores of lithium, with critical minerals key to the batteries of today.
Countries are well in advance of us in getting their act together and transitioning towards net zero … there is a lot of work to be achieved in manufacturing the renewable energy equipment that’s required for that transition, and finding ways to work with one of the biggest countries on our doorstep.
Husic clarified that Australia would, in the first instance, look at manufacturing components of the batteries as we are “thoroughly dependent” on China for certain materials.
There are other parts of the world [that have] been able to work this out and be able to start moving on this. We want to be able to do the same.
Updated at 17.50 EDT23m ago17.35 EDT
Home prices to keep rising despite higher rates: REA
National property prices are expected to increase by up to five per cent in 2023, having already lifted more than two per cent since the start of the year, AAP reports.
The strongest growth is expected to be in…
2023-08-02 16:36:52
Post from www.theguardian.com
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