Labor overhauls Australia’s climate spending in budget and sounds warning on future costs
by Adam Morton and Anne Davies from on (#653B6)
Climate and environment programs in 2022-23 partly funded by redirecting $746.9m from those promised by Coalition
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Labor has revamped Australia's response to climate change and environmental degradation, redirecting nearly $750m in Coalition commitments, including some spending on gas and carbon capture and storage.
As revealed by Guardian Australia, the first Albanese government budget scrapped a Scott Morrison-era electricity generation underwriting scheme that was promised, but failed, to build up to five new gas-fired power generators and six hydro plants. It also reduced and realigned" support for CCS away from new fossil fuel developments.
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