Proposed green manufacturing subsidies will not be a “free for all”, Treasurer Jim Chalmers says, as the Albanese government faces criticism over the policy by its own hand–picked Productivity Commission boss.
Amid warnings over the government’s recently announced Future Made in Australia plan, Treasurer Jim Chalmers said taxpayer funds would not be wasted.
“What we’re talking about here isn’t some kind of free-for-all of public funds,” Dr Chalmers told the ABC’s Insiders program on Sunday.The private sector would be overwhelmingly responsible for the “heavy lifting” to bolster domestic manufacturing, Dr Chalmers said, however government and public investment still had an important role to play.
Downplaying the criticisms directed by Ms Wood, Dr Chalmers said it would be “pretty strange” if the government had not already considered these factors in finalising the policy. Alongside investments and subsidies, tax breaks for businesses would be considered, the Treasurer said. With the Covid-19 pandemic exposing the fragility of global supply chains, many countries have introduced subsidies and erected protectionist barriers designed to support local industry.
World Bank United States Of America Tax Incentives Taxpayer Funds David Geraghty North America Washington Grattan Institute Agence France Presse Oceania Energy Transformation Tax Breaks America Federal Budget Green Subsidies Global Supply Chains Green Manufacturing Government Faces Criticism Exit Strategies Newswire-Politics Businesses Receiving Subsidies Finance Ministers Meeting Chief Productivity Adviser Protectionist Barriers Tax System Australia And New Zealand Jim Chalmers Joe Biden Green Manufacturing Subsidies International Monetary Fund Green Subsidy Scheme Scott Olson Northern America Substantial Slowing Australia Jim Chalmer
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