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Earlier this year, some of Australia’s leading fund managers and economists warned that two major federal financing programs for renewable energy—the Capacity Investment Scheme (CIS) and the National Reconstruction Fund (NRF)—risk becoming “slush funds” unless the government provides far greater transparency about how taxpayer money is being allocated and what returns are being generated.
Neither the CIS nor the NRF discloses:
- The cost of individual renewable projects
- The level of subsidies provided
- Expected or actual returns to taxpayers.
The government says this information is commercial‑in‑confidence and may not be released for years, if ever.
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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.