Key Points
In his budget reply speech, Opposition Leader Peter Dutton outlined a series of policies aimed at tackling rising energy costs, boosting the economy, and investing in youth mental health.
Domestic Gas Reservation: Dutton proposes forcing gas companies to reserve 10-20% of their supply for domestic use, aiming to reduce wholesale gas prices by 40%.
$1 billion commitment to build more gas pipelines and storage facilities on the east coast.
Pledges to build seven nuclear power plants by 2050, requiring changes to federal and state regulations.
Tax Cuts: Increase the instant asset write-off for businesses to $30,000.
Set a target of 400,000 apprenticeships.
Halve the fuel excise temporarily, cutting 25 cents off the cost of a litre of petrol.
Youth Mental Health: Spend $400 million on youth mental health services.
Scrap $16 billion in legislated production tax credits for critical minerals and green hydrogen projects.
The gas industry argues that the domestic gas reservation policy would harm investment and exacerbate supply challenges.
Labor criticizes the Coalition's spending increases and claims they are adding to inflation.
Overall, Dutton's speech presents a clear contrast to the Labor government's policies, focusing on energy security, economic growth, and youth mental health.