Anthony Albanese rules out gas export tax on existing contracts and criticises ‘populist’ campaign

Prime minister says the middle of a global fuel crisis is ‘the worst possible time to jeopardise’ Australia’s partnerships with Asian trading partners

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Anthony Albanese has confirmed next month’s federal budget will not include a new tax on existing gas export contracts as he criticised the “populist” campaign calling for a levy on producers.

As reported last week, the prime minister was poised to reject pressure to introduce a 25% tax on gas exports amid concerns the intervention could alienate the Asian trading partners Australia is relying on for supplies of diesel and petrol.