Chalmers plans an Australian-way to slash emissions, rebuild economy

Treasurer Jim Chalmers has signalled huge new public investments to slash Australia’s greenhouse gas emissions while modernising the national economy to take advantage of advances in renewable energy, minerals and manufacturing.’s Economic and Social Outlook Conference in Melbourne on Thursday morning, said the government was developing a “uniquely Australian” approach to lifting investment that would underpin economic change similar to that the country went through in the 1950s and 1980s.

Chalmers said the government was already investing $40 billion into making the country a renewable energy superpower but more money, both private and public, would be necessary to undertake the type of change required to meet Australia’s emissions objectives.More investment would also be necessary to ensure Australia took advantage of its own unique advantages in areas such as critical minerals or the development of green metals.

“We will complement, not copy, the priorities and plans of other nations, not just do exactly the same kind of investment with the exact same subsidies,” he said. A more active industry policy to support net zero would be driven by a new approach to decision-making.

Source: Financial Digest (financialdigest.net)

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