Govt unveils $2.9b four year first shot at cutting carbon emissions

(Image: Getty)

Mon, 16 May 2022

A large ramp up of subsidies to remove coal from industrial processes, along with paying people to scrap and replace their old cars are two major parts of the government’s plans to cut greenhouse gas emissions.The first emissions reduction plan (ERP) released today outlines the spending of $2.9 billion over four years from the $4.5b Climate Emergency Response Fund (CERF), which is powered by revenue gained from the emissions trading scheme (ETS).The Treasury said due to the rising cost of carbon, the government will have $800 million more...

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