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@ The Guardian
2024-04-14 05:45:58
Industry to face ‘strict tests’ for public funding to incentivise green energy, Jim Chalmers says
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Jim Chalmers, Australian politician, states that there will be 'strict tests' on public funding for the green energy strategy as part of the government's Future Made in Australia plan. Tax breaks and subsidies may be offered to industry, but there must be 'generational change' in Australia to match similar major green economy programs being undertaken by other nations. Anthony Albanese, another Australian politician, signaled a shift to directly supporting Australian industry through an interventionist green industry policy. The plan, to be unveiled in the lead-up to the 14 May budget, aims to foster growth, innovation, create local jobs, and support new industries. Chalmers mentioned that tax concessions and public investment will be part of the strategy, but the focus is on incentivizing private investment. There will be 'rigorous and robust tests' on any funding, and the strategy will have 'strict frameworks' and 'exit strategies' to consider broader economic impacts.
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https://www.theguardian.com/business/2024/apr/14/industry-to-face-strict-tests-for-public-funding-to-incentivise-green-energy-jim-chalmers-says