Australian govt spends 12 $billion for fossil fuel industries, 1 $billion for clean energy
Fossil fuel incentives and subsidies will cost an estimated $12.2 billion this financial year, compared with $1.1 billion spent on programs designed to cut greenhouse gas emissions and boost clean energy research.
Federal spending favours fossil fuels, study finds, The Age, Adam Morton, March 1, 2011 AUSTRALIAN taxpayers spend 11 times more encouraging the use of fossil fuels than on climate change programs – and the sum is growing.
Fossil fuel incentives and subsidies will cost an estimated $12.2 billion this financial year, compared with $1.1 billion spent on programs designed to cut greenhouse gas emissions and boost clean energy research.
An Australian Conservation Foundation analysis found the cost of the incentives has increased $1.6 billion since 2007-08, the final year of the Howard government, while spending on climate programs had jumped just $500 million.
The biggest fossil fuel incentives were in unclaimed revenue, including nearly $5 billion in fuel tax rebates for greenhouse-intensive industries.
More than $1.1 billion was spent on fringe benefits tax concession for company cars – a scheme that leads to people driving further than they otherwise would to gain access to a larger rebate.
ACF executive director Don Henry said the government must cut fossil fuel incentives at the May budget if it was to convince the community it was serious about tackling climate change. Keeping them would undermine the value of a carbon tax, he said.
”Funding these is bad for the climate and it is bad economics,” he said.
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