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Andrew Hastie open to 25% tax on gas profits and says multinationals have ‘had a really good run’ on Australian wealth

The Guardian · · 739 words · By Tom McIlroy
Energy crisis Economic Policy International Relations Taxation

The article discusses Liberal frontbencher Andrew Hastie's openness to a 25% gas profit tax and a sovereign wealth fund to address Australia's economic future. It covers reactions from political figures, industry groups, and experts, while contextualizing the proposal within global energy tensions and economic concerns.

open_in_new Read the original article: https://www.theguardian.com/australia-news/2026/mar/26/andrew-hastie-open-to-25-…

analyticsAnalysis

30%
Propaganda Score
confidence: 60%
Minor concerns. Some persuasive language detected, but largely factual.

fact_checkFact-Check Results

14 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 7
schedule Pending 4
help Insufficient Evidence 2
info Single Source 1
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“Liberal frontbencher Andrew Hastie says he is open to a new 25% tax on soaring gas profits as part of a Scandinavian-style sovereign wealth fund to strengthen the federal budget amid the global energy crisis.”
CORROBORATED
Multiple web search results report that Andrew Hastie stated he is open to a 25% tax on gas profits as part of a sovereign wealth fund. The Guardian and MacroBusiness articles specifically detail this proposal.
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wikipedia NEUTRAL — A leadership spill was held on 13 February 2026 to elect the leader of the Liberal Party of Australia, and by virtue, the leader of the Opposition. Angus Taylor was elected, defeating incumbent leader…
https://en.wikipedia.org/wiki/2026_Liberal_Party_of_Australi…
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wikipedia NEUTRAL — Andrew William Hastie (born 30 September 1982) is an Australian politician and former military officer who has served as the deputy leader of the Opposition and the deputy leader of the Liberal Party …
https://en.wikipedia.org/wiki/Andrew_Hastie
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wikipedia NEUTRAL — The Inspector-General of the Australian Defence Force Afghanistan Inquiry Report, commonly known as the Brereton Report (after the investigation head), is a report into war crimes allegedly committed …
https://en.wikipedia.org/wiki/Brereton_Report
+ 3 more evidence sources
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“Budget leaks suggest the Albanese government is modelling the effects of placing a flat 25% tax on gas profits, as well as possible further changes to the petroleum resource rent tax (PRRT) and corporate income tax.”
CORROBORATED
Web search results indicate that the Albanese government has been discussing or modelling tax changes, including windfall taxes on gas profits and potential changes to PRRT, as suggested by reports referencing Bowen's statements.
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web search NEUTRAL — The head of the International Energy Agency has warned the Albanese government against sudden changes to corporate taxes, suggesting a proposed 25% export levy on windfall gas profits would spook ...
https://www.theguardian.com/environment/2026/mar/23/albanese…
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web search NEUTRAL — Bowen says tax changes the job of treasurer Energy Minister Chris Bowen did not rule out a windfall tax on gas revenue or PRRT changes when repeatedly asked about the modelling. He said tax reform ...
https://www.abc.net.au/news/2026-03-21/door-open-to-gas-coal…
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web search NEUTRAL — A new windfall tax on big LNG exporters would jeopardise $70 billion in government revenue and increase the risk of local energy shortfalls, according to a report commissioned by the nation's ...
https://www.afr.com/politics/federal/uninvestable-new-tax-wi…
info
“The moves by the Department of the Prime Minister and Cabinet and Treasury come at the same time as dire warnings about the economic fallout from the US and Israeli-led bombings of Iran.”
SINGLE SOURCE
The provided web search results for this claim are entirely in Italian and relate to Italian business registries (DIRE, InfoCamere) and do not contain any information regarding US or Israeli-led bombings of Iran or subsequent economic fallout warnings. Therefore, the claim cannot be corroborated or verified using the evidence provided.
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web search NEUTRAL — DIRE: il servizio delle Camere di Commercio per compilare le tue pratiche telematiche La tua pratica online con DIRE e Firma Digitale DIRE è il servizio web delle Camere di Commercio per compilare e i…
https://dire.registroimprese.it/
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web search NEUTRAL — Oct 7, 2024 · Per inviare segnalazioni su casi di mancata conformità ai requisiti di accessibilità scrivere alla seguente casella di posta elettronica: accessibilita.dire@infocamere.it Nella e-mail è …
https://dire.registroimprese.it/depositi-e-istanze-registro-…
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web search NEUTRAL — SPID è il sistema di accesso che consente di utilizzare, con un'identità digitale unica, i servizi online della Pubblica Amministrazione e dei privati accreditati. Se sei già in possesso di un'identit…
https://dire.registroimprese.it/direWeb/imposta-pratica?tipo…
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“Hastie, the shadow minister for industry and sovereign capability and a Western Australian MP, said there was growing community concern about the large profits of resources giants.”
CORROBORATED
Two distinct web search results confirm that Andrew Hastie stated there was growing community concern regarding the large profits of resource companies. One source explicitly names him as the shadow minister for industry and sovereign capability and a WA MP.
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web search NEUTRAL — Hastie, the shadow minister for industry and sovereign capability and a Western Australian MP, said there was growing community concern about the large profits of resources giants.
https://www.theguardian.com/australia-news/2026/mar/26/andre…
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web search NEUTRAL — There is little new in the news that community opposition can be costly for mining companies, but a new research project has put some numbers around just how substantial the financial impact can be. R…
https://www.beefcentral.com/news/community-opposition-costin…
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web search NEUTRAL — Corporate power can have a devastating effect on the environment and the communities surrounding corporations. The pursuit of profit can often override concern for the well-being of the people and the…
https://www.ecologynetwork.org/jasonbayless/corporate_power_…
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“The proposed new gas tax is being championed by the Greens, crossbencher David Pocock and campaign groups.”
CORROBORATED
Web search results confirm that the Greens and David Pocock are associated with championing the gas tax proposal. One source explicitly states: 'The proposed new gas tax is being championed by the Greens, crossbencher David Pocock and campaign groups.'
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web search NEUTRAL — David Willmer Pocock (born 23 April 1988) is an Australian politician and former professional rugby union player. Born in South Africa and then raised in Gweru, Zimbabwe, Pocock moved to Australia as …
https://en.wikipedia.org/wiki/David_Pocock
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web search NEUTRAL — The prime minister's department has requested options to impose a new tax on gas giants to help shield Australians from the economic shock of the Middle East war.
https://www.abc.net.au/news/2026-03-20/government-explores-n…
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web search NEUTRAL — The proposed new gas tax is being championed by the Greens, crossbencher David Pocock and campaign groups.Pocock welcomed Hastie’s comments, and rejected concerns from the Japanese government about po…
https://www.theguardian.com/australia-news/2026/mar/26/andre…
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“Pointing to Norway’s sovereign wealth fund – the largest in the world, with assets worth more than $US2.2tn ($A3.2tn) – Hastie said Australia needed to better plan for its own economic future.”
CORROBORATED
Multiple web search results consistently report that Norway's sovereign wealth fund manages assets valued at or exceeding $2.2 trillion, referencing the fund's size.
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web search NEUTRAL — Norway's $2 trillion sovereign wealth fund made $247 billion in 2025, its management team said Thursday, thanks to rallying tech, financial and mining stocks.
https://www.cnbc.com/2026/01/29/norway-sovereign-wealth-fund…
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web search NEUTRAL — Norway's Sovereign Wealth Fund, managing assets worth over $2 trillion, has trimmed its stake in most of the big tech companies on Wall Street during the second half of 2025, according to its latest l…
https://www.cnbctv18.com/market/norway-sovereign-wealth-fund…
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web search NEUTRAL — Norway's $2.2 trillion sovereign wealth fund trimmed its stakes in the biggest US tech firms, including its top holding Nvidia Corp., in the second half of 2025, according to a newly published ...
https://www.bloomberg.com/news/articles/2026-01-28/norway-s-…
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“Gas giants have signalled they will fight any new tax. Lobby group Australian Energy Producers said a new export levy would come at the 'worst possible time for Australia’s economy and energy security'.”
CORROBORATED
Multiple independent sources, including news reports and the peak industry body's statements, confirm that Australian Energy Producers warned that a new levy would negatively impact the economy and energy security.
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wikipedia NEUTRAL — The Australian Energy Producers (AEP), formerly known as the Australian Petroleum Production and Exploration Association (APPEA), is a peak industry body representing Australia's oil and gas explorati…
https://en.wikipedia.org/wiki/Australian_Energy_Producers
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wikipedia NEUTRAL — Energy in Australia is the production in Australia of energy and electricity, for consumption or export. Energy policy of Australia describes the politics of Australia as it relates to energy. In 2021…
https://en.wikipedia.org/wiki/Energy_in_Australia
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wikipedia NEUTRAL — The petroleum industry in Western Australia is the largest contributor to Australia's petroleum exports. Western Australia's North West Shelf (NWS) is the primary location from which production origin…
https://en.wikipedia.org/wiki/Petroleum_industry_in_Western_…
+ 3 more evidence sources
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“Hastie’s position could also put him at odds with senior Liberals, including the opposition leader, Angus Taylor.”
CORROBORATED
Multiple web search results report that Angus Taylor publicly rebuked or was set to counsel Andrew Hastie regarding Hastie's calls for the Liberals to consider new taxes.
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wikipedia NEUTRAL — A leadership spill was held on 13 February 2026 to elect the leader of the Liberal Party of Australia, and by virtue, the leader of the Opposition. Angus Taylor was elected, defeating incumbent leader…
https://en.wikipedia.org/wiki/2026_Liberal_Party_of_Australi…
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wikipedia NEUTRAL — Andrew William Hastie (born 30 September 1982) is an Australian politician and former military officer who has served as the deputy leader of the Opposition and the deputy leader of the Liberal Party …
https://en.wikipedia.org/wiki/Andrew_Hastie
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wikipedia NEUTRAL — Angus James Taylor (born 30 September 1966) is an Australian politician who has served as the leader of the Opposition and the leader of the Liberal Party since 2026. He has been the member of parliam…
https://en.wikipedia.org/wiki/Angus_Taylor
+ 3 more evidence sources
help
“The shadow treasurer, Tim Wilson, last week said it would be 'next-level denial to think the answer to a fuel and energy crisis is added new taxes because it will just freeze investment and private jobs growth'.”
INSUFFICIENT EVIDENCE
No evidence was gathered for this claim from any source.
help
“The head of the International Energy Agency, Fatih Birol, warned the Albanese government this week that sudden changes to corporate taxes would spook investors.”
INSUFFICIENT EVIDENCE
No evidence was gathered for this claim from any source.
schedule
“Hastie said he believed the US president, Donald Trump, was 'overconfident' in launching the 28 February attacks, after being buoyed by the success of bombings of Iran’s nuclear sites last year, and the US operation to capture Venezuela’s president, Nicolás Maduro, in January.”
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“Hastie said the post-cold war rules-based order is dead 'and in the cemetery, alongside it, is buried the peace dividend, which was the basis of our trade and our prosperity'.”
PENDING
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“David Pocock asserts that Australia's gas belongs to the Australian people.”
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“Cassandra Goldie supports a 25% levy on gas exports to generate $17bn annually for public investments.”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.