Leave it in the ground – Revenue from new coal and gas projects in freefall, costings reveal

The Greens have a policy of approving no new thermal coal or unconventional gas projects in Australia. That includes new mines, as well as expansions to existing mines. In 2013 the party obtained costings from the parliamentary budget office detailing their estimate of how much revenue the federal budget would lose as a result of reduced tax and any other costs, if the policy was implemented. It was then estimated the policy would result in the government missing out on $1.5bn over the forward estimates – the four years to July 2017. The Greens asked for the same advice again this year and that figure dropped dramatically to just $290m over the forward estimates – the four years to July 2019.

>more> TheGuardian

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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