ANDREW CLENNELL: All right. Joining me live, Resources Minister Madeleine King, thanks for your time. Are you confident this will be passed on from Wednesday; can you assure Easter holiday makers this will be passed on immediately? 

MINISTER MADELEINE KING: Well, it's a really important initiative, on top of a set of initiatives that the Government has implemented to deal with the ripple effects of the Middle East crisis. So what you've seen today is the energy ‑ Fuel Energy Security Plan, also the ability now for Export Finance Australia to secure more supply. 

We have increased the penalties for petrol retailers, if they are seen to be price gouging, they will, you know, face the ACCC and the law of the land. 

ANDREW CLENNELL: So we're getting 26 cents cheaper, no question on Wednesday, are we? 

MINISTER MADELEINE KING: Well, the ACCC will be monitoring this, and I, like everyone else, and me and my Cabinet colleagues and all the MPs have talked about exactly the same thing, that we fully expect these measures to be passed on to consumers, that is really important for consumers, especially, as you know, we head in to Easter, people do like to catch up with their family, and they generally have to drive to get there. 

ANDREW CLENNELL: It was a last minute decision to do this, wasn't it? 

MINISTER MADELEINE KING: Absolutely not. 

ANDREW CLENNELL: What, so it was always the intention to do a fuel excise cut? 

MINISTER MADELEINE KING: No, not at all. No, what I'm saying is there is a range of measures the Government looks at all the time. We go through data collection and we see where the troubles are emerging, and so there has been a supply side issue when we've seen that peak in demand, so we look at many, many options. 

ANDREW CLENNELL: But you weren't looking to do it today, that's my understanding. 

MINISTER MADELEINE KING: I don't ‑‑ 

ANDREW CLENNELL: You must have been surprised at the Cabinet table when it was brought forward. 

MINISTER MADELEINE KING: I know that as a government we go through a very considered and thoughtful process, I'm part of that process. There's been many discussions about different options, including what Minister Bowen has introduced today, which is a really important initiative to make sure we can secure those fuel supplies as well as other commodities, like fertilizer ‑‑ 

ANDREW CLENNELL: Sure. 

MINISTER MADELEINE KING: ‑‑ and there may be other shortages as well. So the fuel excise though is a measure that we will introduce, it starts on 1 April, the cut, as well as the cut to the heavy user road charge ‑ I might have got that round the wrong way, there's a lot floating about ‑‑ 

ANDREW CLENNELL: Yes. 

MINISTER MADELEINE KING: ‑‑ but nonetheless there is a range of measures, government looks at all possible measures. You can't throw everything at this all at once, that is not smart, it's not sensible, and so it is the measure we are introducing today ‑‑ 

ANDREW CLENNELL: You've done it 'cause Angus did it.  

MINISTER MADELEINE KING: ‑‑ I look back on a number of others. 

ANDREW CLENNELL: Right. You've done it now because Angus did it. 

MINISTER MADELEINE KING: Well, that's ridiculous. 

ANDREW CLENNELL: Is it? 

MINISTER MADELEINE KING: That is a ridiculous proposition. 

ANDREW CLENNELL: Is it? What a coincidence, Deirdre Chambers, Friday Angus Taylor says we're going do this ‑‑ 

MINISTER MADELEINE KING: No, I ‑‑ 

ANDREW CLENNELL: ‑‑ you announce ‑ your PM announces exactly ‑‑ 

MINISTER MADELEINE KING: Andrew ‑‑ 

ANDREW CLENNELL: ‑‑ the same policy on Monday. 

MINISTER MADELEINE KING: Andrew, the Australian people, your viewers, are smarter than that; they're smarter than that. This Government ‑‑ 

ANDREW CLENNELL: I think my viewers are smart enough to realise ‑‑ 

MINISTER MADELEINE KING: ‑‑ this Government ‑‑ 

ANDREW CLENNELL: ‑‑ that you've just copied the Opposition policy statement here. 

MINISTER MADELEINE KING: This Government takes our own advice; we went through, we have gone through a number of measures, I think there's about eight ‑‑ 

ANDREW CLENNELL: Why is it exactly three months, the same as Angus, why is it exactly 50 per cent?  

MINISTER MADELEINE KING: But that's a ridiculous ‑‑ 

ANDREW CLENNELL: What a coincidence.  

MINISTER MADELEINE KING: ‑‑ proposition. The thing is ‑‑ 

ANDREW CLENNELL: No, no, why? Why is it exactly the same as Angus Taylor's policy? 

MINISTER MADELEINE KING: I know ‑ we have done a considered approach to this, and I know what you're trying to get to, and it's wishful thinking ‑‑ 

ANDREW CLENNELL: Well, were there several options? Were there several options? 

MINISTER MADELEINE KING: There is wishful thinking on your part that somehow Angus Taylor is relevant. Well, he's not. 

ANDREW CLENNELL: I'm not wishful that Angus Taylor is relevant. 

MINISTER MADELEINE KING: This is a government ‑ this is a government that is working through propositions to make sure ‑‑ 

ANDREW CLENNELL: Were there several options?  

MINISTER MADELEINE KING: ‑‑ supply is there for the Australian people. 

ANDREW CLENNELL: Were there several options; was there ‑‑ 

MINISTER MADELEINE KING: I'm not ‑‑ 

ANDREW CLENNELL: ‑‑ six months, was there three months, was there two months?  

MINISTER MADELEINE KING: Andrew, I think you know, I do not talk about Cabinet processes, I absolutely do not do that. 

ANDREW CLENNELL: Okay. 

MINISTER MADELEINE KING: The proposition is here, we are legislating for the fuel supply through the strategic reserve, we'll make sure this fuel excise gets cut ‑ the fuel excise gets passed on to the Australian consumers.  

ANDREW CLENNELL: Will it push up demand which could lead to further shortages? 

MINISTER MADELEINE KING: We will have to monitor all these things. What is a really important part of the work the Prime Minister is doing, the Premiers and National Cabinet is around data collection to make sure we know exactly what's happening right around the country on that demand side so we can make good, informed decisions should this conflict in the Middle East that's bearing down on us all continue, and we absolutely hope it does not. 

ANDREW CLENNELL: Is petrol rationing on the table? You spoke about a few different things that are around. 

MINISTER MADELEINE KING: The Government has to look at events as they occur but also plan for the future. So this National Energy Security Plan with the State Premiers and the Chief Ministers ‑‑ 

ANDREW CLENNELL: There it is. 

MINISTER MADELEINE KING: ‑‑ is about ‑‑ 

ANDREW CLENNELL: Some five pages or something. 

MINISTER MADELEINE KING: ‑‑ is about working with the States and Territories to collect that data so we can plan for the future. 

ANDREW CLENNELL: Aren't we at Level 3? I mean the PM says we're at Level 2, but Level 3 is some fuel disruption. 

MINISTER MADELEINE KING: At the moment we have adequate and secure supply, we are taking measures to make sure that continues as the nations around the world feel the ripple effects. I'm really confident about the supply of fuel, but we have to plan, and as the Prime Minister said, we have to over prepare, and I support that entirely. 

ANDREW CLENNELL: What's the thinking behind reducing the heavy vehicle user charge? 

MINISTER MADELEINE KING: It is about helping truckies, it's really about moving freight around the country a bit more easily. 

ANDREW CLENNELL: And that effects grocery prices and everything else, I imagine. 

MINISTER MADELEINE KING: Well, and, it stops the effects on grocery prices going up. That is the intention. Again data collection in all of this will be really imperative to make sure we can pinpoint exactly what's working. 

ANDREW CLENNELL: What about this change on Saturday, you've had a part in this underwriting fuel purchases, can you explain that to us? 

MINISTER MADELEINE KING: Yes, so the bill that we introduced today has been actually in the design for a little while as a critical minerals strategic reserve, and as a government that is nimble and works together, and we have been working really closely together, myself, the Trade Minister Don Farrell, the Minister for Climate Change and Energy Chris Bowen and the Prime Minister, to use the legislation we have developed for this purpose, a strategic reserve for critical minerals, but as well as a strategic reserve for liquid fuels as well as other strategic commodities where we find ourselves in unforeseen circumstances at the end of a supply chain and we need to act. 

ANDREW CLENNELL: Should New South Wales and other states do free public transport like Victoria and Tasmania are, would you like to see uniformity there? 

MINISTER MADELEINE KING: Look, I really commend the Governments of Tasmania and Victoria for introducing that ‑ well, free public transport, that's an important measure. The States will have to make up their own decisions, of course they will. I know in Western Australia public transport fares are much reduced, at the start of this year in fact I used the train quite a lot to head up to Perth, so ‑‑ 

ANDREW CLENNELL: Good train, that. 

MINISTER MADELEINE KING: It's an excellent train, a Labor initiative. 

ANDREW CLENNELL: Walked into that one. 

MINISTER MADELEINE KING: You did. The Mandurah to Perth rail line. 

ANDREW CLENNELL: What's the worst case scenario on supply? 

MINISTER MADELEINE KING: We are working on supply and making sure we have all the measures a government possibly can have to ensure that supply's secure for Australians. There are two oil refineries left, they need crude oil.  The refineries where we get more petroleum and gasoline from in our Asian neighbours, they also rely on crude oil from the Middle East.

So the best thing that can happen for crude oil supplies and refined petroleum is for the conflicts in the Middle East to come to a conclusion. 

ANDREW CLENNELL: And if it doesn't? 

MINISTER MADELEINE KING: Well, we hope it does come to a conclusion. We have to work with our neighbours. This is an ecosystem of trade, as people know, we export LNG to provide the energy security, and coal, energy security for the region, and in return Australia gets liquid fuels and the ingredients for fertilizer. 

ANDREW CLENNELL: Do you think there's any consideration by Government about what Andrew Hastie sort of is considering, you know, suggesting yesterday the Government might look at a tax on windfall gas exports; is that under consideration? 

MINISTER MADELEINE KING: I think that statement by Andrew Hastie's already been shot down by the Leader of the Opposition, Angus Taylor. So I'll leave that to them. 

ANDREW CLENNELL: Sure. 

MINISTER MADELEINE KING: The ‑‑ 

ANDREW CLENNELL: But your position ‑‑ 

MINISTER MADELEINE KING: ‑‑ the petroleum resources rent tax is already a profit‑based tax, so any windfall is already collected by the PRRT. We saw increased PRRT earnings when international prices spiked during the first, or the start of the illegal invasion by Russia of Ukraine. So I think the PRRT and the reform we've done is doing excellent work, and I would just point out the capital costs on these projects and the time span to get them up is enormous. IMPEX, the largest investment by Japan in any overseas country is the IMPEX development, $80 billion, for Chevron and Wheatstone, the Barrow Island Project in Western Australia, another $80 billion. That's tens of thousands of jobs over a number of years and then many, many hundreds of ongoing jobs. 

ANDREW CLENNELL: So Jim Chalmers doesn't want any sort of gas tax in this budget, he doesn't want any further moves on that front? 

MINISTER MADELEINE KING: We have, and he has been very clear about this, I've been very clear about this, our tax position hasn't changed. The PRRT has undergone some reform ‑‑ 

ANDREW CLENNELL: And it won't be changing in this budget? 

MINISTER MADELEINE KING: ‑‑ and that has brought ‑ we ‑ I'm not going to talk about the Cabinet processes behind the budget, they're really important, that a government goes through and considers what it must, but I'll just have to say quite honestly and happily, the tax position hasn't changed. 

ANDREW CLENNELL: Madeleine King, thanks so much for your time.