Gas giants warn against windfall gains tax as Pocock says ‘wartime profits’ should go to struggling Australians

<p>Government faces political fight as industry says mooted 25% levy on exports would hurt Australia’s economy and energy security</p><ul><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p>Gas giants will lobby against any federal government moves to introduce a 25% export levy on windfall profits, as crossbenchers pressure the prime minister to redirect billions of dollars in “wartime profits” to Australians struggling amid the global energy crisis.</p><p>It comes after the prime minister’s department asked Treasury to model the effects of placing a flat 25% tax on gas exports, the <a href="https://www.abc.net.au/news/2026-03-20/government-explores-new-tax-for-gas-coal-to-buffer-fuel-costs/106475100">ABC reported on Friday</a>, along with any further changes to the <a href="https://www.theguardian.com/australia-news/2025/oct/25/mining-giants-must-pay-rent-tax-critical-minerals-cash-boom">petroleum resource rent tax</a> (PRRT) and corporate income tax.</p> <a href="https://www.theguardian.com/australia-news/2026/mar/20/gas-windfall-gains-tax-australian-economy">Continue reading...</a>