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Australia won’t cut fuel tax despite global oil risks, focusing instead on tax cuts, cheaper medicines, and EV incentives.
Australian Treasurer Jim Chalmers has ruled out cutting fuel excise despite rising global oil market instability, particularly near the Strait of Hormuz, which could drive up petrol prices.
He said the government is focusing on other cost-of-living measures like tax cuts, cheaper medicines, expanded bulk billing, and student debt relief.
Chalmers directed the ACCC to monitor petrol prices to prevent unfair hikes and confirmed a review of electric vehicle tax breaks is underway, with support for EV adoption.
The government is tracking global energy, travel, and insurance risks through the National Security Committee to protect economic stability.
Australia no recortará el impuesto al combustible a pesar de los riesgos globales del petróleo, centrándose en cambio en recortes de impuestos, medicamentos más baratos e incentivos para vehículos eléctricos.