A deal to set up a domestic gas reserve could still be struck as the deadline for the end of the parliamentary year nears.
While Prime Minister Anthony Albanese is overseas at summits in the Philippines and China, political machinations will continue on Monday with a Senate-only sitting for the first of the final two parliamentary weeks of 2026.
Plans to set up the gas reserve will dominate the sitting week as Labor negotiates with the coalition to get the deal over the line.
Under the proposal, gas companies would be required to set aside up to 20 per cent of their exports for use in Australia.
Labor will need support from either the opposition or the Greens to get the laws through the Senate and the coalition looms as the more likely path to make the changes law.
In a Senate inquiry report released on Wednesday, the coalition said it was open to supporting the reservation policy but only if changes were made.
Coalition senators Kerrynne Liddle and Susan McDonald said the current proposal would come at the detriment of domestic gas producers and risk future supply.
But in an open letter, the heads of eight organisations, including business lobby the Australian Industry Group and peak union body the ACTU called on parliament to pass the gas reserve bill.
“Australia is one of the world’s largest gas exporters, yet it has no national mechanism to ensure its own people and industries are supplied first,” the open letter said.
“On the east coast, risks of gas shortages are common, and prices have become tied to volatile and high-priced global markets, with the cost borne by manufacturers, workers, households and small businesses.
“This is not any one party’s reform. It is reform in the national interest.”
The government is still aiming to pass laws for a digital duty of care and to remove higher private health insurance rebates for those older than 65.
It’s the second time Labor has tried to pass the insurance changes after the laws were thrown out of the Senate due to opposition from the coalition, Greens and the cross bench.
The Greens have signalled they will be willing to pass the changes if pensioners are exempt.
A fight over changes to taxes on trusts is also expected.
Budget measures would apply a 30 per cent minimum tax to discretionary trusts, prompting anger from the business sector.
In a joint statement by the Australian Chamber of Commerce and Industry, Master Builders, council of small businesses and others, peak bodies called for senators to reject the tax
“Small business can’t afford this – neither can an economy that needs small businesses and family builders prioritising investment,” the open letter said.
Australian Associated Press is the beating heart of Australian news. AAP is Australia’s only independent national newswire and has been delivering accurate, reliable and fast news content to the media industry, government and corporate sector for 85 years. We keep Australia informed.
