Coalition’s costings reveal over $2 billion in environment spending slashed

5 September 2013

Environment Victoria has today condemned the Coalition’s plans,revealed in their long-awaited policy costings document, to slash over $2 billion in environment spending.

Environment Victoria Campaigns Director Mark Wakeham said today:

“The costings released by Shadow Treasurer Hockey today reveal the Coalition plans to slash billions from environment programs, including cutting spending on their own election promises, if they are elected to government.”

“It’s a very worrying sign that the Coalition is already breaking its own funding promises on the environment before election day.”

“The Coalition’s environment and climate change policies were already deeply worrying, with plans to revoke World Heritage listings, review and potentially weaken important reforms like the Renewable Energy Target and Marine Parks, plans to scrap the carbon price, Clean Energy Finance Corporation and Climate Change Authority and plans to weaken federal environment legislation. Now they’ve revealed plans to slash over $2 billion in environment spending.

Cuts revealed in the costings include:

• Delaying the commencement of the Direct Action Plan’s Emission Reduction Fund by one year meaning that $1 billion less is spent in the forward estimates period;
• $185 million cut from the Connecting Renewables to the Grid program;
• $650 million cut to water buybacks for Murray Darling Basin Plan by delaying expenditure;
• $500 million from the Million Solar Rooves program over the next decade, half of what the Coalition has previously promised, or $200 million over the forward estimates.

This means that even before election day the Coalition has cut $2 billion from environment programs in the next 4 years.

The Coalition’s costings also reveal:

• In just the next four years, scrapping the carbon price would save $7.47 billion in business assistance and clean energy programs, but cost taxpayers $13.5 billion in lost revenue from polluters, meaning that taxpayers are over $6 billion worse off from scrapping the carbon price, even before they have to pay $1.55 billion for the Coalition’s Emission Reduction Fund. All up taxpayers will be $7.5 billion worse off under the Coalition’s Direct Action Plan in just the next four years, for a scheme which few believe will work as effectively as an emissions trading scheme.

• Programs promised by the Coalition, including the Clean Energy Employment Hubs, Solar Towns and Solar Schools, and Geothermal and Tidy Towns will now be paid for out of ARENA funding, meaning existing ARENA programs will be scrapped.

For further information or comment

Campaigns Director, Mark Wakeham, 0439 700 501