Here is what Peter Dutton had to say there:
I do think fuel and the tax that’s applied to fuel is a huge impulse across the economy, which is why we’ve taken the decision. Because a cut in the fuel excise, the fuel tax, it means a 25 cent a liter reduction, not just for families and small businesses, but also for pensioners and other people across the economy. And as you rightly point out, it takes some pressure off the supply chain. So it means, you know, when you have a look at the fuel bill you’re paying, think about the tradie as well, who might have three or four youths running around and the cost each week being paid, or delivery truck drivers farmers on delivering produce to supermarkets, etc.
That’s where the real benefit is in the economy. I just make this point in terms of whether you make a decision about making it permanent good governments respond to the circumstances in front of them.
And as I pointed out before, when we approached the COVID period, we looked at what economic things and decisions that we could make to make it easier for families and businesses to survive through that period.
We didn’t bake them in permanently. We provided them on an ongoing basis.
We renewed them if we thought that the economy still required that and people still needed that support, which is exactly the approach that I want to take. So it costs $6 billion a year. It’s a lot of money. The Prime Minister’s tax cuts cost about $17.4 billion over four years, and then over seven and a half billion dollars a year ongoing. Now my argument is that there are many ways in which we can provide support, including tax cuts, and we would reassess where we are as an economy, as a people, as a nation, in 12 months time, and if we needed to extend it, then we could do that. But I would just say that if you bake it in and you put it as a continuing cost, that continues to compound, because every dollar that Anthony Albanese is spending at the moment is borrowed money, and that has to be paid for.
So we just have to get the balance right.