Published: October 31, 2018
Cutting the fuel excise would erode the budget bottom line and hurt efforts to fight climate change – so not just dumb, but dumb repeated
The latest inflation figures released on Wednesday by the bureau of statistics revealed that petrol prices have risen faster in the past year than they have for a decade and yet at the same time overall inflation remains historically low. At such a time, the government might be tempted to pursue a short-term policy to reduce petrol prices, but ideas such as that from Liberal MP Craig Kelly to cut the fuel excise should be rejected outright.
The September consumer price index growth figures showed inflation growing at just 1.9% – once again below the RBA’s 2% bottom target.
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