Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

This bill, which amends the Excise Tariff Act 1921, reduces the increase in excise on aviation gasoline and aviation turbine fuel that is applied when an equivalent carbon tax is applied to Australian manufactured fuels.

An estimated $196 million was raised in 2012-13 by applying the carbon charge to aviation fuel.

This bill will reduce one of the major components of airline costs, which can be passed on to travellers and consumers.

The bill also reduces the act's complexity by removing references and notes associated with the imposition of the carbon tax.

Debate adjourned.