Deputy Prime Minister Barnaby Joyce says to blame the Russian invasion of Ukraine for Australia’s rising costs of living,
Speaking to Sky News on Wednesday, Mr Joyce described the invasion, which began on 24 February, as “the source of so many of our problems”.
When asked how to bring down soaring costs for essential items in Australia, Mr Joyce said a great first step would be for “Mr Putin to get the hell out of Ukraine”.
He blamed disruptions to wheat and barley exports out of Ukraine and western Russia for pushing up the price of food, from bread to grain-fed beef.
As petrol prices across many parts of Australia climbed well over $2 a litre, Mr Joyce noted much of the world’s energy supply comes from Russia.
“You can focus this on the actions of a single person deciding to walk into a democracy of 44 million people and basically murder people; that’s what it comes down to,” he said.
“And I don’t know how you stop that.”
Looking closer to home, Mr Joyce said Australia should continue its capacity to produce fuel onshore, via its two remaining oil refineries, acknowledging the price of fuel was already rising prior to the invasion of Ukraine.
Last year the government promised to pay the refineries, owned by local companies Ampol and Viva, up to $2.3 billion to stay open through to 2030.
“Yes, fuel was going up – but now of course it’s exacerbated; 40 per cent of the energy requirements for Europe come out of Russia and Ukraine,” he said.
“You don’t have to be Pythagoras to work out what happens next to fuel prices.”
Mr Joyce said he was hesitant to make predictions regarding the government excise tax on fuel, which stands at 44.2 cents a litre.
“Obviously people should know what the excise is used for; it’s used for your roads and of course if you’re going to reduce what you earn, you’re going to reduce what you spend,” he said.
“That’s a decision that may or may not be made. I’ll leave that in the hands of the Treasurer.”
