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Portfolio note · Thursday 14 May 2026

Shadow Portfolio — 14 May 2026

Tribune’s note

Andrew Hastie used the second reading of the Combating Illicit Tobacco Bill 2026 to mount a broad attack on the government's tobacco excise policy, arguing it has fuelled a black market now worth up to $6.9 billion annually. The coalition's central charge is that excise increases have widened the price gap between legal and illegal products, delivering a revenue loss the Parliamentary Budget Office puts at more than $20 billion over five years — a figure the opposition presents as starkly contradicting the government's own $3.3 billion revenue forecast.

The coalition will support the bill but frames it as inadequate, demanding a comprehensive national strategy spanning enforcement, border protection, and Commonwealth-state coordination. Hastie's direct challenge to the Treasurer's claim that excise bears little relation to the illicit market signals a deliberate cross-portfolio attack line the opposition is likely to prosecute further.

Primary records (1)

The official records this note draws on — the raw primary documents themselves, as published.