Weekly Wrap Up – 12 December 2025
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If there was one political story that eclipsed almost everything else this week, it was the fuel saga – and not just because petrol prices climbed relentlessly. With geopolitical shockwaves rippling out of the Persian Gulf and the effective closure of the Strait of Hormuz, Australia has found itself at the end of a very long supply chain, and squarely at the sharp end of a global energy squeeze.
That reality was underscored when Anthony Albanese delivered a rare, televised address – the kind usually reserved for moments of genuine gravity. His message, whilst positioned to reassure, was firm but measured, urging Australians to “do their bit” to ease pressure on fuel demand, while stopping short of framing the situation as a wartime crisis. Its tone appealed to shared responsibility rather than alarm.
Earlier in the week, Anthony Albanese convened a National Cabinet meeting and announced the National Fuel Security Plan – promising a coordinated national approach to keep fuel flowing. But most of these moves look, at best, look like stop-gaps rather than structural fixes – the consequence of decades spent running a lean, just-in-time fuel system while domestic refining capacity quietly withered.
The headline move – halving the fuel excise for three months, trimming about 26 cents per litre – lands as an easy political win. Economists, however, are far less enthusiastic. The critique is familiar: a short-term sugar hit that blunts price signals, props up demand, and risks feeding inflation at exactly the wrong time, particularly in the wake of recent Reserve Bank rate hikes. With Parliament in recess for April, Jim Chalmers now faces a Budget process growing more complicated by the day. Measures pitched as relief could yet tighten the fiscal squeeze, limiting room to manoeuvre when the numbers are finalised.
Politically, the week laid bare a familiar tension in Canberra: the pull of immediate, headline-friendly relief versus the slower, harder work of building long-term resilience. Albanese’s address gave the moment its national frame but the policy response still leans heavily on temporary fixes. With inflation pressures building and the Budget clock ticking, it may leave Treasury staring down a long and complicated month ahead.
Stay tuned.
Top talking points
Parliament Sits: Federal Parliament sat again this week. The Government sought to progress a number of legislative items aimed at supporting fuel supply issues.
National Cabinet: Anthony Albanese convened a meeting of National Cabinet and released the National Fuel Security Plan to coordinate a national response to preserve fuel supplies across Australia.
National Address: Anthony Albanese delivered a National Address, discussing the war in the Middle East, relief measures, and fuel security issues.
Children’s Online Privacy Code: The Office of the Information Commissioner released the Exposure Draft of the Children’s Online Privacy Code. The draft sets out new rules requiring organisations to prioritise children’s best interests when collecting, using, or disclosing their personal information.
Polling Update: Redbridge/Accent Group’s latest polling shows the Federal Coalition’s support has fallen to a new low, with its primary vote down 2 points to 17 per cent. One Nation has risen to 29 per cent, while Labor sits at 32 per cent. On a two-party-preferred basis, Labor leads One Nation 53 to 47 per cent.
Making headlines this week
Fuel Security Legislative Items
RBA Review into Merchant Card Payment Costs and Surcharging
The RBA announced its decision to abolish debit and credit card surcharges from October, following an 18-month consultation period in which it received over 250 submissions and facilitated 150 stakeholder meetings across the payments system. The review found the current framework had become ineffective, with widespread consumer confusion and limited ability to avoid fees. The reforms are expected to save households about $1.6 billion annually and improve price transparency by embedding payment costs in advertised prices. Jim Chalmers framed the ban as a practical cost-of-living measure, highlighting relief from unexpected checkout charges, greater pricing clarity, and fairer outcomes for consumers.
Things to watch
8 April: Matt Canavan will 
8 April: The ABS will Economic Support, Genetic Testing Ban, and APRA Moves
Jim Chalmers communicated that the Government is partnering with business and finance sectors to support families and small businesses facing economic pressures due to the Middle East conflict. The Government is offering tax relief, easier credit access, and promoting industry led hardship support and flexible regulatory responses.
Parliament passed the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Bill 2025, introduced by Daniel Mulino, banning life insurers from using adverse genetic test results to deny or limit cover. ASIC will regulate non-compliance, with civil penalties and criminal offences applying for breaches.
APRA updated its rules, making it easier for insurers to offer better, more affordable retirement income products by giving them greater flexibility in managing long-term risks.
National Press Club Address, Veterans Affairs, E-Commerce Agreement Update
Don Farrell addressed the National Press Club, communicating that the proposed Australia–European Union Free Trade Agreement would bolster Australia’s economic resilience and growth. Don Farrell positioned the deal as an extension of recent agreements with the UK, India and the UAE, alongside ongoing efforts to ease trade barriers with China.
Parliament passed the Defence and Veterans’ Service Commissioner Bill 2025 and the Defence and Veterans’ Service Commissioner (Consequential and Transitional Provisions) Bill 2025, introduced by Matt Keogh. The measures implement Recommendation 122 of the Royal Commission into Defence and Veteran Suicide, establishing a new statutory authority to lead system-wide reform across the defence and veteran system through the Defence and Veteran Service Commission.
Australia adopted an interim World Trade Organization E-Commerce Agreement that aims to streamline processes and reduce costs in contracts, invoicing and payments conducted globally. The Agreement will also provide a platform for global cooperation in areas like privacy and cybersecurity.
Gas Committee, Gas Security Mechanism, Fertiliser Supply Working Group Developments
A Select Committee on the Taxation of Gas Resources has been established to examine the effectiveness of Australia’s current regime, including the Petroleum Resource Rent Tax, as well as considering options for increasing returns from LNG exports. The inquiry, due to report by 7 May, will also assess cost-of-living impacts and benchmark Australia’s approach against international frameworks.
Madeleine King has issued a notice of intent to consider activating the Australian Domestic Gas Security Mechanism (ADGSM) amid forecasts of a potential east coast gas shortfall in Q3 2026. The decision follows ACCC warnings and will involve consultations with major gas producers over the next 30 days before a mid-May determination.
Julie Collins announced the Government will defer the phased transition to full cost recovery for export regulatory services by one year, from 1 July to 1 July 2027. Julie Collins also established a new Fertiliser Supply Working Group to improve fertiliser availability, including amending legislation to underwrite private sector purchases of fuel and fertiliser.
Social Media Ban, Consumer Aviation Protection, Building Approvals Data, and Free Public Transport Moves
Anika Wells warned social media companies to comply with Australia’s under-16 ban, citing ongoing enforcement gaps and threatening fines of up to $49.5 million for systemic breaches. The eSafety Commissioner raised concerns about compliance across major platforms, singling out Facebook, Instagram, Snapchat, TikTok and YouTube.
Catherine King introduced legislation that supports stronger protections for aviation passengers, including a new Aviation Consumer Ombudsperson and an Aviation Consumer Protection Authority, in light of travel uncertainty caused by the war in the Middle East.
ABS data shows building approvals reached their highest level in more than four years, with more than 19,000 dwellings approved in February. Clare O’Neill communicated that the figures reflect progress in meeting the National Housing Accord.
The Victorian and Tasmanian governments announced free public transport to support the current fuel crisis and ease cost-of-living pressures.
Australian Tertiary Education Commission, NDIS, and Fair Work Commission Developments
Legislation to establish the Australian Tertiary Education Commission (ATEC) passed Federal Parliament. The ATEC was a recommendation from the Australian Universities Accord and will seek to oversee funding and guide reform in the tertiary education sector.
Parliament passed the National Disability Insurance Scheme Amendment (Integrity and Safeguarding) Bill 2025, introduced by Jenny McAllister. This legislation introduces tougher penalties for non-compliance, empowers the NDIA with greater enforcement powers, and allows for banning orders.
The Fair Work Commission announced junior pay rates will be abolished for young adult employees on the Fast Food Industry Award 2020, General Retail Industry Award 2020, and Pharmacy Industry Award 2020. Changes will be phased in over time, starting from 1 December, with the final changes to happen from 1 July 2029. There will be no change to junior rates for those under 18.