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

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