Antinuclear

Australia’s Opposition climate change spokesman Greg Hunt talks nonsense on CEFC

CEFC may write financing contracts before July, REneweconomy By Giles Parkinson 26 April 2013   “…..Hunt’s big dodgy number games

Last Sunday, Opposition climate change spokesman Greg Hunt appeared on the Bolt Report, the program hosted by noted climate skeptic and News Ltd journalist Andrew Bolt, complaining about the government’s“dodgy numbers” on its climate policy.

Hunt knows something about dodgy numbers. That’s how most experts describe his Direct Action policy, but on ABC Radio on Wednesday he came up with a new one when he said (unchallenged) that the CEFC would spend up to $240 million a day between July 1 until the writs for the election are issued in early August.  Hunt was so satisfied with his statement that he tweeted it too.

Of course, it’s utter nonsense, as Hunt well knows. He arrives at that figure by dividing the $10 billion in funds the CEFC will have at its disposal over 5 years, by the number of days between July 1 and the election writs. But these funds are only allocated in $2 billion batches over 5 yeas, so even if the CEFC spent its entire 2013/14 budget is the first six weeks, it would be well short of Hunt’s number. But, the bigger the number, the bigger the scare.

And the CEFC is not likely to rush its entire funds out the door in one fell swoop. The CEFC can only be disbanded by an act of government, which makes it as easy, or as difficult, to unravel as the carbon price. Unless the Coalition gets a majority in the Senate, or the Labor rump rolls over, then the CEFC could continue for a while longer.http://reneweconomy.com.au/2013/cefc-may-write-financing-contracts-before-july-28670

April 26, 2013 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, election 2013