The Australian Financial Review is reporting Resources Minister Keith Pitt is calling for a $250 billion loan facility to be set up for the mining sector if the Morrison government wants the Nationals’ support on net zero by 2050.
“If they want to go down this net zero path then it’s probably not bad idea to have some kind of trade-off,” Mr Bond said. “Chances are they that they never have to use that or dip into that money but I don’t think it’s an unfair ask necessarily. “It’s a loan system, we’re not talking about proper corporate welfare – I’d definitely be opposed to that.”
The government doesn’t need to be loaning taxpayer funds to mining companies when the mining companies can borrow money from other sources like they do every day of the week. This is just another way for the Coalition to reward its political donors and corporate cronies.