Antinuclear

Finance Minister Mathias Cormann says new cut to Clean Energy Fund , in exchange for saving Australian Renewable Energy Agency (Arena)

Coalition says deal with Labor to save Arena funding will lead to new clean energy cut
Mathias Cormann tells Sky News that the capital available to Clean Energy Innovation Fund will be reduced, Guardian, Michael Slezak, 13 Sept 16, The finance minister, Mathias Cormann, has said the Coalition’s deal with Labor to save some funding for the Australian Renewable Energy Agency (Arena) will be balanced by a new cut to the Clean Energy Innovation Fund – but Labor has denied that was the agreement.

Speaking on Sky News, Cormann said: “Labor has asked for us to restore $800m of that for grants funding so we will do that but the capital available to the Clean Energy Innovation Fund will be reduced accordingly.”

It is understood that would in effect be cutting the Clean Energy Finance Corporation (CEFC) by $800m, because the innovation fund is part of the CEFC……..

The Greens’ climate and energy spokesman, Adam Bandt, called on Labor and theCoalition to clarify what the finance minister meant.

“It seems the finance minister thinks the government still gets to rip over a billion dollars from clean energy and that Labor has been outplayed,” Bandt said. “Far from saving clean energy, Labor just did a dirty deal with the Liberals to gut renewables.” https://www.theguardian.com/australia-news/2016/sep/13/coalition-says-deal-with-labor-to-save-arena-funding-will-lead-to-new-clean-energy-cut

September 16, 2016 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, energy, politics