Former Wallabies captain turned senator David Pocock has reignited Australia’s tax debate by pointing out that the government collects more revenue from a beer excise than from the petroleum resource rent tax (PRRT) on LNG exports. The viral Senate exchange has focused attention on a country that supplies roughly a fifth of Asia’s liquefied natural gas, while domestic fuel prices surge.

Prime Minister Anthony Albanese’s Labor government has halved fuel excise to ease pump prices, yet opposition parties and the Greens are pushing for a 25% windfall tax on gas exports, arguing it would raise billions in additional revenue. Treasury veteran Ken Henry urged lawmakers to “just do it,” while industry chiefs like Woodside’s Liz Westcott warned that such a levy could jeopardise projects worth A$30bn.

Industry leaders counter that the existing PRRT, reformed by Albanese, already delivers a fair share, citing A$22bn in taxes paid last year. They cite the UK’s windfall tax experience as a cautionary tale, fearing reduced investment in mega‑projects such as Woodside’s Browse LNG development. With the budget looming, the tax row threatens to shape Australia’s role as a key LNG supplier.