| Bill Shorten will “axe” Tony Abbott’s emissions reduction fund if he wins next year’s federal election, gaining budget savings of up to $4.3bn over a decade. Shorten will promise to honour contracts already signed with polluters by the Coalition but will then abandon the scheme, which he describes as “a waste of money built on one counter-productive idea: giving great wads of taxpayer cash to big polluters to keep polluting”.
The emissions reduction fund (ERF) offers government funds to companies or organisations willing to reduce carbon pollution through a competitive grants scheme. It was allocated $2.5bn up to 2020 and the Coalition announced this week it would continue to get about $200m a year between 2020 and 2030...............................................Full Article: Source |