Budget 2024: Jim Chalmers’ plan to fast-track energy transition red tape

Treasurer Jim Chalmers is close to finalising a budget package to fast-track business investment approvals for foreign and domestic capital to speed up the stuttering energy transition and other Labor priority projects.sped up and a “front door” set up for business to navigate regulation, under reforms expected in the May 14 federal budget, according to government and industry sources aware of the plan.

“That will overwhelmingly be the task of the private sector, but it requires some co‑investment from government, it requires leadership from the prime minister right down, and multiple levels of government.”before becoming chairman of the $212 billion Future Fund, said “significant” direct government investments in post-fossil fuel renewable energy and grid projects was required beyond

“This approach should be genuinely whole-of-government and address key investment barriers, including the need for faster approvals. Foreign investment approvals have been impeded by a backlog of deals being considered by Treasury and a stronger influence of national security agencies on sensitive assets, such as critical infrastructure and personal data including health records.

Source: Energy Industry News (energyindustrynews.net)

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