Tax breaks and subsidies may be offered to industry as part of the government’s yet-to-be-detailed Future Made in Australia plan – but Jim Chalmers says there will be “strict tests” on public funding for the green energy strategy.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundupthrough an interventionist green industry policy similar to the US president Joe Biden’s Inflation Reduction Act. Albanese promised direct government support to speed up the energy transition and stem the flow of money and ideas to countries offering investment incentives.
Asked if there would be a focus more on “tax incentives than direct handouts”, Chalmers said there would be “some combination of all of the levers available to government”.Our Australian morning briefing breaks down the key stories of the day, telling you what’s happening and why it mattersHe stressed there would be “rigorous and robust tests” on any funding, saying it “isn’t some kind of free‑for‑all of public funds”.