Export Finance and Insurance Corporation Amendment (Strategic Reserve) Bill 2026

The majority voted against an amendment introduced by Lyne MP Alison Penfold (Nationals), which means it was unsuccessful. The amendment would have changed the text of the usual second reading motion, which is "that the bill be read a second time" (parliamentary jargon for agreeing with the main idea of the bill).

Amendment text

That all words after "That" be omitted with a view to substituting the following words:

"whilst not declining to give the bill a second reading, the House:

(1) notes:

(a) the Government spent three weeks denying the existence of a fuel crisis—first dismissing concerns, then blaming consumers, and only acting once the problem became unavoidable;

(b) that after four years in office, the Government has failed to strengthen Australia's sovereign fuel capability, and now proposes to fund imports of the same resources it has banned funding for domestic production; and

(c) that Australia enters this crisis weaker, with higher debt, higher taxes, persistently high inflation, and falling real wages as a direct consequence of the Government's economic mismanagement; and

(2) recognises that the former Coalition Government took decisive action to strengthen fuel security, including establishing the Minimum Stockholding Obligation, legislating the Fuel Security Act, and securing Australia's last two refineries".