Instead of imposing a carbon levy on polluters to fund big personal income tax cuts, governments are gambling taxpayer money on climate and energy projects.
Australia’s policies on taxing carbon and mining have experienced a sharp U-turn since just over a decade ago.
Instead of taxing carbon emissions like the Gillard Labor government, taxpayers will now pay big carbon emitters. NSW will pay Origin Energy up to $450 million to extend until 2027 its coal-fired power plant in the Hunter Valley.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
