Parliament is being recalled to vote on a price cap on gas, but Labor is likely to combine its compensation measure, daring the Coalition to reject the package.
A federal law to spend $1.5 billion on household power subsidies could be put to parliament on Thursday in a Labor bid to confront the Coalition over its complaints about a sweeping energy package that aims to ease pressure on prices.
Dutton said the price controls on gas would discourage investment and cut supply when he believed more gas was the answer to rising prices.“We’re not going to support a plan that is going to have devastating impacts in the medium and long term on our economy,” he said. Independent senator David Pocock will use a briefing on Tuesday to seek more detail and ask why the government is refusing to apply a “windfall tax” on energy exporters to pay for household assistance.
The gas industry has not ruled out a legal challenge or an advertising campaign to challenge the new scheme, but shares in Santos and Woodside rose on Monday despite fierce criticism of the government policy from investment analysts.
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