![]() ![]() It's also putting $148.6 million over five years to encourage investment in "affordable and reliable power" which includes $84 million over those five years for community microgrid projects in regional and rural Australia. Instead, the government is investing just under $250 million over five years to support investment in low emissions technologies including hydrogen.Īt the moment, creating the hydrogen to use as a fuel source produces emissions and while projects are being proposed and at various stages, it's still unclear how long it'll take to reach the scale needed for it to be a viable alternative to fossil fuels. There is no new direct funding in the budget for renewable energy generation projects. The only funding for renewables is a microgrid program for rural and regional areas. While cutting the excise, even temporarily, was something some state and federal MPs had called for, other groups had warned it probably wouldn't mean immediate relief at the bowser, would only help motorists and would cost the budget bottom line billions of dollars.īut regardless, Mr Frydenberg and the government have decided to half the excise. The ACCC says that if retailers lie about passing on the tax cut and making fuel cheaper, it "will not hesitate to take appropriate enforcement action", including hefty fines. To make sure the cut to the fuel excise is actually passed on to motorists, and not just used by retailers to make a bigger profit, the Australian Competition and Consumer Commission (ACCC) will be keeping an eye on fuel prices. ![]() Mr Frydenberg says the cut will last for the next six months and will save motorists 22 cents a litre when they fill up. ![]() The war in Ukraine has led to an increase in oil prices and some motorists have faced paying more than $2.20 a litre for petrol. In an effort to bring down petrol prices, the government is cutting the fuel excise - the flat tax levied on each litre of fuel - in half. Petrol prices have soared in recent weeks. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |