Jim Chalmers says we don’t need a version of the Inflation Reduction Act, but that underscores the importance of its fine print to our critical minerals industry.
Jim Chalmers says Australia won’t be introducing an IRA-lite scheme, referring to the massive subsidies available to mining, energy and manufacturing industries under the Biden administration’s Inflation Reduction Act.
“There have been calls to do more, to pursue our own Australian version of the Inflation Reduction Act, and to mobilise more public capital into the industries that will help us realise our potential as a renewable energy superpower,” he says.
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Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com
