Treasurer Jim Chalmers has hit out at the Coalition’s proposed nuclear energy policy, labelling it “economic insanity” that would result in higher power bills for Australians.
Opposition Leader Peter Dutton announced details of his ambitions for Australia ’s energy future, including 38 per cent of the nation’s power to come from nuclear energy by 2050.
According to analysis by Frontier Economics, the cost of the Opposition’s nuclear plan will be $331 billion compared to Labor’s $595 billion renewables-only policy. “His numbers are wrong, and his assumptions are dodgy, and every Australian will pay a hefty price for what he is proposing. What we saw on Friday from Peter Dutton and his colleagues was a total shambles from beginning to end,” Mr Chalmers told Sky News Australia.
“It wasn’t modelling; it was a meltdown, and it was real slapstick stuff, but unfortunately would have very seriously bad consequences for power bills. “What’s being proposed here is economic insanity; it will vandalise our economy, it will push living standards and growth down, it will produce less energy, and it will push energy prices up.”
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