Aussie Government Slashes $500 Million from the Renewable BudgetPosted: September 17, 2016
“I guess the price of making an economically worthless living off the fantasies of politicians, is your budget can be stripped and reallocated, any time the boss wants to do some international virtue signalling.”
Guest essay by Eric Worrall
The Aussie government has slashed $500 million from the domestic ARENA renewable energy budget, instead of $1.3 billion – but the government has also just given away $300 million to “climate affected” Pacific Islanders.
The budget cut;
Australian Renewable Energy Agency handed lifeline after threat of closure
The Australian Renewable Energy Agency has escaped closure with the government agreeing to restore $800 million of funding.
The agency, which provides financial grants for 40 per cent of the CSIRO’s energy research, was set to be stripped of $1.3 billion as part of the government’s Omnibus Savings Bill.
The Coalition also planned to merge its funding role with the Clean Energy Finance Corporation, which expects to see a financial return on money it invests in research.
But a compromise was reached on Monday night to limit the cuts to $500 million after criticism from the opposition, academics…
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