Anthony Albanese rules out new tax on gas as activists are booted out of CME resources breakfast in Perth

Anthony Albanese has all-but ruled out a new tax on gas, declaring there are currently no “windfall profits” after anti-gas activists disrupted his appearance at an industry event in Perth.

The Prime Minister said the upcoming Federal Budget would “not undermine existing contracts on gas exports”.

Pressed further, he said no future changes were being contemplated despite a growing push by the Greens, Independent David Pocock and environmental lobby groups.

“There has been no windfall profit, gas prices remain the same as they’ve been,” Mr Albanese said.

“We’ve made very clear our position, the only thing I am concentrating on when it comes to fuel is supply.”

He denied Australia’s international trading partners have raised concerns about a potential tax on war-time profits, insisting it had not been discussed.

“What we’ve been talking about is Australia is a reliable supplier of energy, that’s what we do, that’s our reputation,” Mr Albanese said.

He said the petroleum resource rent tax, which applies to offshore oil and gas projects at a rate of 40 per cent, is already designed to increase revenue as profits rise.

The PRRT is forecast to raise about $2 billion in 2026 but the Australian Energy Producers peak body argues the industry also paid about $13.5 billion in corporate tax in 2024-25.

Woodside said the North-West Shelf has paid about $42 billion worth of royalties.

“Woodside‘s paying 44 cents in the dollar in Australia. We think that’s delivering a fair return to Australians,” new Woodside chief executive Liz Westacott said.

Chamber of Minerals and Energy WA boss Aaron Morey welcomed the Prime Minister’s response, saying it should for now end the debate.

“Certainly (a gas profits tax) has not been explicitly ruled out definitively but the Prime Minister did make a very clear commitment that any changes would have to follow significant consultation with the industry,” he said.

“In so far as that has not occurred, we are confident that the Budget won’t include any significant new taxation measures.”

Conservation Council WA chief executive director Matt Roberts called Mr Albanese’s rejection of a new tax an “insult” and a “wasted opportunity”.

Three anti-gas protesters disrupted the CME breakfast minutes before the Prime Minister’s speech.

The trio jumped on the stage and started shouting “disrupt Burrup hub” slogans before being quickly removed.

They appeared to enter the function room without any security checks, despite a large police presence.

Mr Albanese was not rattled but said his own security was being increased.

“People have have a right to protest, by all means, and express their views but they should do so in a way that it is appropriate,” he said.

“We need also to, as I’ve said continually, we need to turn the temperature down on public debate.

“There is an upgrade going on at the moment at Kirribilli House that’s substantial as a result of the increased environment of threats, which are there. They are real.

“I say to everyone, regardless of your political position, we should be able to have discourse and have debate which is respectful.”