Chalmers says Australia’s gas industry is ‘important’ part of economy

Treasurer Jim Chalmers says Australia’s gas industry is a “really important” part of the nation’s economy.

“I acknowledge that, and I respect that. And want them to be profitable,” Mr Chalmers said on Wednesday at a media conference.

“All that we are asking by imposing this cap on the price of domestic gas is that these incredibly high prices they’re getting on markets don’t hollow out our local industries or smash Australians in the process.”