Labor has a clear fiscal plan to get the budget back onto a sustainable footing by delivering more savings than spending over the coming decade.
We have clearly identified a range of Abbott-Turnbull Government policies which do not meet our test for the national interest and will be discontinued under Labor.
For example, the Abbott-Turnbull Government’s emissions policies put Australia at the back of the global pack, and yet we have the highest emissions per person in the developed world.
To date, the Abbott-Turnbull Government’s only response to climate change has been to give billions of dollars to big polluters under Direct Action, run ridiculous scare campaigns and try to destroy the renewable energy industry.
Direct Action is a waste of money built on one counter-productive idea: giving great wads of taxpayer cash to big polluters to keep polluting.
Analysis from Reputex indicates that under this policy, emissions will actually rise by 20 per cent over the next decade.
We can’t afford to waste taxpayers’ money on a plan that won’t work.
A Shorten Labor Government will put a strong commitment to renewable energy at the centre of Australia’s response to climate change.
Renewable energy will deliver new investment, good jobs, lower power bill for homes and small businesses and it will help cut pollution.
If elected, Labor will scrap the Abbott Government’s expensive and ineffective Emissions Reduction Fund.
We will honour contracts that the Government has entered into, but the waste ends there. Abolishing the Emissions Reduction Fund represents savings of over $1 billion.
These savings, in concert with Labor’s fair plans on multinational taxation, high end superannuation, negative gearing and tobacco excise will help set the budget on a more sustainable trajectory so that Australia can afford to make important investments in the things that matter: like schools, hospitals and infrastructure for our future.