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Home > Australia Spends Billions on Incentives for Fossil Fuels

Australia Spends Billions on Incentives for Fossil Fuels [1]

"[Australian] taxpayers spend about 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 about $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 by $1.6 billion since 2007-08, the final year of the Howard government, while spending on climate programs had risen just $500 million. The biggest fossil fuel incentives were in unclaimed revenue, including about $5 billion in fuel tax rebates for greenhouse-intensive industries.

More than $1.1 billion was spent on fringe benefits tax concessions for company cars."

Adam Morton reports for the Sydney Morning Herald March 1, 2011. [2]

Climate Change [3]
Energy & Fuel [4]
Australia & Oceania [5]
Public [6]
Source: Sydney Morning Herald [2], 03/01/2011
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Source URL:https://www.sej.org/headlines/australia-spends-billions-incentives-fossil-fuels

Links
[1] https://www.sej.org/headlines/australia-spends-billions-incentives-fossil-fuels [2] http://www.smh.com.au/environment/billions-spent-on-fossil-fuel-incentives-20110228-1bbsn.html [3] https://www.sej.org/category/topics-beat/climate-change [4] https://www.sej.org/category/topics-beat/energy [5] https://www.sej.org/category/region/international/australia-oceania [6] https://www.sej.org/taxonomy/term/81