Lame duck Morrison throws $2b climate change hail mary

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By Leith van Onselen

The man that once waved a lump of coal around parliament has announced a $2 billion Climate Solutions Fund to reduce Australia’s emissions. From The ABC:

Prime Minister Scott Morrison will today launch a new pre-election climate change policy, pledging $2 billion for projects to bring down Australia’s emissions.

The Climate Solutions Fund is an extension of former prime minister Tony Abbott’s Emissions Reduction Fund…

“We acknowledge and accept the challenge of addressing climate change, but we do so with cool heads, not just impassioned hearts,” he said.

“Our Climate Solutions Package will ensure Australia meets our 2030 emissions reduction target — a responsible and achievable target — building on our success in comprehensively beating our Kyoto commitments.”

In July 2007, when the Howard Government was in its death throes, John Howard also had a mea culpa and announced that a carbon trading scheme would be set up if he won the 2007 Election.

History doesn’t repeat but it sure does rhyme.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.