Australia Institute October 2022 Budget Wrap

Climate & Energy

What is going on with electricity?

by Dan Cass and Richie Merzian

The Labor government intends to make up for a decade of wasted energy policy under the last federal government by investing $4.7 billion over the forward estimates in new electricity transmission lines. According to the budget papers, these investments will earn $241 million by 2026… continue reading →

Gas profits untouched

by Daniel Bleakley

The Budget papers show that despite the oil and gas industry making vast profits the federal government is not planning to increase how much tax it pays… continue reading →

Fuel tax credit

by Audrey Quicke

For a ‘bread and butter’ budget, there are some pretty beefy subsidies for fossil fuels. The fuel tax credit rebate is one of the top 20 most expensive programs, rebating the fuel excise tax to businesses that consume diesel off public roads… continue reading →

Fossil fuel subsidies: Two steps forward, one step back

by Alia Armistead

Labor’s Budget contrasts starkly with the Coalition’s March 2022-23 Budget, which committed up to $4 billion to fossil gas and carbon capture and storage (CCS) under the pretence of energy security, regional development and ‘low emissions technology’… continue reading →

Planes, Trains and (electric) Automobiles

by Audrey Quicke

When it comes to electric vehicles (EVs), it’s good to see the Government delivering on a number of pre-Budget promises… continue reading →

Reviving Climate Diplomacy

by Sienna Parrott

In a welcome investment in climate diplomacy, the Labor Government will spend $45.8 million on restoring “Australia’s climate reputation”. The funding will help build Australia’s capacity to re-engage constructively with its neighbours and the international community after descending into the role of the villain at recent United Nations (UN) climate forums… continue reading →

Got Beef?

by Alia Armistead and Audrey Quicke

The Labor Government recently announced it would sign up to the methane pledge agreed at the Glasgow COP, and join efforts to cut global methane emissions by 30 per cent this decade. While agriculture remains a major source of methane emissions, the Budget channels more support to boosting the meat industry than driving down its emissions… continue reading →