With the federal government seeking a new way to fix Australia’s self-inflicted “gas crisis”, Australia Institute research shows a 25% tax on gas exports would solve the problem.

The research shows a tax, proposed by the ACTU and supported by the Greens, would increase supply and cut energy bills for Australians.

It would also raise around $17 billion for Australians annually, bringing Australia closer to other gas exporting countries like Norway and Qatar.

Gas giants Origin and Shell, which both have surplus gas, are lobbying to continue exporting as much uncontracted gas to the global spot market as possible, ahead of supplying Australians. Santos, which doesn’t have enough gas, wants to continue taking gas out of the Australian market for export.

“A 25% tax on gas exports would solve the gas crisis. It would cut energy bills, ensure there is enough gas for Australians. It would also provide $17 billion annually for better housing, health care, education and childcare,” said Mark Ogge, Principal Advisor to The Australia Institute.

“A 25% tax on gas exports would solve the problem immediately and provide a huge financial benefit the Australian community.”