The introduction of an indexed fuel excise in Tuesday’s federal budget could see many Australian motorists paying more for petrol.
According to the ABC the government is looking to change the indexation on the fuel excise which was abolished by the Howard government in 2001.
Since indexation was axed the excise hasn’t changed, staying at 38.1 cents per litre even though petrol prices continue to rise.
Exact details about what the indexation amount may be and timings remain unclear.
The Federal Government has repeatedly warned this budget will be a tough one, and has been attacked by the opposition – and some of its own MPs – over reports that it is planning to introduce a temporary income tax increase on higher earners.
There’s more here.
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