NL 62, June 2010
This edition of the Institute’s newsletter looks at the mining super profits tax, a charter of human rights, Australians missing out on government assistance, the war in Afghanistan, free trade agreements and the PBS, the Institute’s Measuring what Matters project, and peak oil.
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A tobacco-style ban on fossil fuel advertising would be a decisive win for Australia – and the climate.
Fossil fuel subsidies
When governments subsidise fossil fuels—coal, gas, diesel, petrol—they not only waste public money, they also make climate change worse. Subsidies and tax breaks make fossil fuels cheaper, making it harder to switch to renewable energy and cleaner technologies. Ending fossil fuel subsidies is common sense and good policy.
It is time to abolish the expensive Fuel Tax Credit that incentivises fossil fuel use.
The OECD has recently called for the end of Australia’s Fuel Tax Credits Scheme, which is growing in cost every year.