(Image: Unsplash/veeterzy)
While much of the media continues to perpetuate the fake Morrison inching toward climate action narrative, last night s budget confirms how committed the government is to backing its fossil fuel donors and how little it is doing on climate action.
The government had already announced its new handout for fossil fuel companies that pay the Coalition hundreds of thousands of dollars a year in donations: $263 million to be given to fossil fuel companies for the fraud of carbon capture and storage projects. But the budget papers revealed more giveaways to the fossil fuel sector. According to the Australian Conservation Foundation, the government will also hand $58.6 million to the gas industry for gas infrastructure and storage, as well as over $200 million to upgrade Northern Territory roads near gas projects.
Source: AAP/Tracey Nearmy
Small Business Ombudsman Bruce Billson is backing the federal government’s new $10 billion reinsurance scheme, saying it will make insurance premiums more affordable for businesses in northern Australia.
The $10 billion reinsurance pool, announced on Tuesday, will cover cyclone and related flood damage in northern Australia from mid-2022.
The fund will act as a government guarantee to help reduce insurance premiums for small businesses, households and strata by over $1.5 billion over 10 years, and is expected to cover 500,000 eligible property insurance policies.
SmartCompany the federal government’s proposal “is an important step forward in addressing what is a complex area”.