Labor moves on $15 billion manufacturing pledge | CroweDM
The federal government will open talks with industry next week on a $15 billion fund to put public cash into local ventures in a bid to match an existing fund that generates a return from investing in renewable energy.
The talks next week will be the first step towards defining the rate of return the NRF will be expected to generate in the same way an existing fund, the Clean Energy Finance Corporation, gains from its investments in renewable energy projects. Like the CEFC, which was backed with $10 billion in federal cash raised from Commonwealth bonds, the NRF will be funded with $15 billion from government debt on the assumption it can achieve a commercial return and will not deepen the annual budget deficit.Prime Minister Anthony Albanese went to the May election withAdvertisement
Companies will apply to the NRF for support that could include equity or debt funding, as with the CEFC, but the guidelines are yet to be defined.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Labor to face pressure to increase JobSeeker under IR horse-tradingThe government will review the adequacy of benefits for the unemployed, under a deal struck by independent senator David Pocock to pass workplace relations legislation.
Read more »
A great day for brand Labor in Victoria and CanberraOPINION: Labor’s triumph in Victoria and a win in getting the industrial relations bill through the Senate reflect a party surging towards the end of the year. The Liberals are wandering in circles, consumed by their own failures.
Read more »
Scott Morrison facing censure push as Labor backbenchers speak outLabor MPs are demanding Scott Morrison be censured by parliament over his “unprecedented power grab” in the secret ministries affair.
Read more »
Will Andrews’ thumping win embolden federal Labor?OPINION: The worry now is whether Mr Andrews’ thumping win will embolden Anthony Albanese to revive the old Labor faith in government intervention at the national level.
Read more »
Scott Morrison facing censure push as Labor backbenchers speak outLabor MPs are demanding Scott Morrison be censured by parliament over his “unprecedented power grab” in the secret ministries affair | jamesmassola
Read more »