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S1: Now the Prime Minister has been, as I said, announcing

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S1: a three point plan. They've just finished national cabinet. The

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S1: treasurer is speaking as we speak, but the Prime Minister

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S1: has announced that the fuel excise will in fact be

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S1: halved for three months. So the government have caved in

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S1: to pressure from the opposition on this. Have a listen

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S1: to the Prime Minister.

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S2: Today we're announcing the Commonwealth Government will halve the fuel

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S2: excise on petrol and diesel for three months. The halving

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S2: of the fuel excise will reduce the cost of fuel

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S2: by 26.3 cents per litre. Importantly, in addition, states and

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S2: territories have agreed and are finalising a proposal to ensure

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S2: they won't benefit from the elevated prices that are occurring

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S2: because of the GST.

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S1: Well, I'm not sure how that last bit is going

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S1: to work, but anyway, the breaking news there, the fuel

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S1: excise will be cut for three months. It'll be halved,

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S1: saving you the motorist 26.5 cents per litre. Of course,

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S1: excise is a fixed twice a year indexed figure. G

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S1: t is a float at 10% on top. Okay, so

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S1: the GST take will still be high because the price

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S1: of fuel is high, but the excise will be halved,

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S1: saving you 26.5 cents per litre for the next three months.

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S1: I think it gives you a bit of a sense

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S1: of how long the government anticipates these higher prices to linger. Uh,

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S1: at least three months. Alright, so that's the breaking news

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S1: coming through from Canberra. That'll help. That'll help. And it

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S1: was Angus Taylor calling for that, of course. Last week

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S1: the government said there's no plan to do that. Well,

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S1: here we are today after national cabinet and it's coming in.

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S1: It's 11 to 1.