Prime Minister Anthony Albanese is pushing forward with a $13.7 billion production tax credit scheme aimed at supporting Australia's net-zero strategy and attracting private investment in green metals. The scheme, facing criticism for potentially benefiting 'big business and multinationals', is being debated in the upper house. Independent Senator Jacqui Lambie has called for the government to take equity stakes in minerals companies instead of offering tax breaks.
Prime Minister Anthony Albanese has desperately pushed forward with his production tax credits scheme that will hand $13.7 billion to"big business and multinationals" in pursuit of Labor's net-zero strategy.Amid criticism the policy hands billions to"big business and multinationals", the crossbench has been debating the proposal in the upper house.
In what is likely to be one of his final speeches before the federal election, Mr Albanese will argue that these tax credits are essential to securing Australia’s economic future. Ms Lambie, who confirmed she will support the bill, raised concerns about the lack of return for the Australian public from the scheme.
“If it's such a big business, and multinationals are frothing at the mouth to buy into this, then why are we standing on the sidelines?” she said.
PRODUCTION TAX CREDITS NET ZERO AUSTRALIAN INDUSTRY MINERALS ELECTION
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