Drilling for Debt
![Motorists in a car are being asked by a politician whether they want their car filled up. The 'Budget 2022' petrol bowser drills into the ground. Underneath the ground is 'DEBT'. Motorists in a car are being asked by a politician whether they want their car filled up. The 'Budget 2022' petrol bowser drills into the ground. Underneath the ground is 'DEBT'.](/sites/default/files/2024-10/2022_th06_04_drilling-for-debt_broelman.jpg)
Peter Broelman
The March Budget handed down by the Coalition government saw a halving of the fuel excise, which cut 22c per litre from the price of petrol. It was good news for motorists, but the cut would cost the federal government $2.65 billion in lost revenue over the six-month period it would be in force.