Fresh from its backflip on superannuation tax reform, the Albanese government is now facing calls from the union movement to ditch its changes to taxes on oil and gas exports, in a move the ACTU says would raise $17 billion a year to be pumped into housing.

This masthead can reveal the peak union body believes the petroleum resource rent tax (PRRT), which the government overhauled in its first term in a bid to raise more revenue from the impost, should be axed and replaced with a flat 25 per cent tax on all LNG exports.

But the business community believes the best way to lift productivity and strengthen the economy is for Treasurer Jim Chalmers to pick up key proposals from his economic roundtable, including tax incentives to boost business investment.

This year, the PRRT is forecast to

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