Ignore ‘self-serving’ claims from gas giants and implement 100% tax on windfall profits, Ken Henry says

Former Treasury secretary says a tax rate is ‘socially optimal’ in submission to a new parliamentary inquiry

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The former Treasury secretary Ken Henry says “self-serving” claims from gas giants about the risks of a windfall profits and export taxes should be ignored by the Albanese government as it weighs up the intervention ahead of next month’s federal budget.

In a submission to a new parliamentary inquiry examining the gas taxation regime, Henry made the case for a 100% windfall profit tax as he rejected the assertion that any changes would heighten perceptions of Australia as a sovereign risk and freeze investment in new projects.