Latest news with #NickiHutley
Yahoo
20-04-2025
- Business
- Yahoo
Officials unveil billion-dollar plan to address long-neglected issue: 'It's time for strong policies'
Australia's clean energy industries are set to undergo a major expansion, as the government has allocated AU $2 billion (US $1.2 billion) in the latest budget to invest in solar and storage, along with other planet-friendly technologies. As PV Magazine Australia reported, the 2025-26 federal budget has committed the funds to the Clean Energy Finance Corporation, an Australian government-owned green bank. The funding will go toward private sector investments in wind, solar, green hydrogen, and electrification projects. That's in addition to nearly AUD$37 million (USD$22.7 million) to improve grid infrastructure and another AUD$10 million (USD$6.1 million) toward the accelerated connections fund, which aims to address grid access delays and boost efficiency. Green metal production will also receive financial support, with the AUD$1 billion (USD$600 million) green iron investment fund helping to accelerate Australia's transition to green steel. Climate energy finance director Tim Buckley told PV Magazine that the CEF is thankful for the green metals investments but "a lot more is needed" to support domestic clean energy technology manufacturing. "From here, there are abundant opportunities for the Federal Government to grow Australia's clean economy for generations to come through win-win solutions for our economy and climate," Climate Council economist Nicki Hutley told the magazine. A portion of the funds will be allocated to hydrogen and critical minerals tax incentives, low-pollution liquid fuels, and investments in renewable energy manufacturing, including battery and storage technologies. The impressive commitment to clean energy will benefit Australia's economy and ensure better health for people and the planet. As the transition to solar, wind, and other renewable energy sources continues to gain momentum, it's an excellent time to invest in sustainability-focused businesses and support eco-friendly initiatives. Governments provide financial backing for industries, but everyday people can drive positive change in the marketplace. "Now that we're securing the future of our industry with these investments, it's time for strong policies that put domestic manufacturers first," Australian Workers' Union national secretary Paul Farrow told PV. Farrow added that "stronger local procurement requirements" are needed to help steelworks and aluminum smelters to continue operations and grow. Meanwhile, using Australian-made materials for public infrastructure "makes perfect sense" for job security and creation. Should the government continue to give tax incentives for energy-efficient home upgrades? Absolutely No Depends on the upgrade I don't know Click your choice to see results and speak your mind. "[The Australian Energy Market Operator] expects investment in new energy infrastructure to support more than 60,000 energy jobs over the next 20 years, with the retirement of coal from our system prior to 2040," said CEFC CEO Ian Learmonth in a statement, adding that CEFC investments will help in the move to more sustainable energy. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
14-04-2025
- Business
- Yahoo
Pensioner's Centrelink plea after 50-year career paying taxes: ‘25 cents a day'
Labor and the Coalition have both ruled out increasing Centrelink payments, despite desperate pleas from community groups and recipients. While the payments go up multiple times a year to keep pace with inflation, many feel it's nowhere near enough to match the rising cost of living. Retiree Marge asked how older Aussies are meant to get by on the current Age Pension. "How can the government expect us to believe that they know everyone is doing it tough when the latest pension increase for a couple equates to 25 cents per day each?" she said on the ABC program Q&A. Centrelink recipient hits out at $3.10 cash boost amid calls to drastically increase JobSeeker ATO responds to controversial tax deduction Aussies try to claim every year: 'Be very careful' Aussie quits 'rough' full-time job to make $3,803 a week as a cleaner: 'Earning so much more' "Every bill we pay has risen significantly... actions definitely speak louder than words in this situation." She said after working for 50 years and paying her taxes, she shouldn't have to be so intensely focused on every dollar she spends in her twilight years. Another Centrelink payment under the spotlight was JobSeeker, which recently went up by $3.10 per fortnight. Economist Nicki Hutley told the programme that recent modelling revealed that investing an extra $1 in JobSeeker sees a $1.25 return in the community."Now that is a very solid return on investment in terms of healthier people, lower government payments, better productivity. It is a win-win outcome," she said. "They're living well below the poverty line, unable to afford rent in most places, meals, medicines, kids, educational needs. 'This is not acceptable." She referenced the recent report from the government's Economic Inclusion Advisory Committee, which recommended increasing JobSeeker to 90 per cent of the Age Pension. That would take the payment from the current $781.10 per fortnight to $942.39. Yahoo Finance has spoken with several Centrelink recipients, who have all said the current payments are nowhere near enough. Perth resident Damien said an extra $3.10 per fortnight wouldn't even buy two litres of milk. "I just scoffed at it. I just feel like not accepting it. It's not going to do us any benefit at all," he said. "We're supposed to be the lucky country." But politicians from the two major parties reaffirmed their view that the payment shouldn't be increased. Clare O'Neil, housing and homelessness minister, said Labor won't be supporting another boost for JobSeeker. "Please understand every budget we come to, we are absolutely trying to find every single way that we can help people relieve pressures," she told the audience. Michael Sukkar, shadow social services minister, said it was "depressing" that the "working poor" concept had arrived in Australia where people are working around the clock and potentially living in their cars. He said while political parties always look to increase social security payments, it's sometimes not possible. "How much do we shake all of you down for more taxes... that can enable us as far as social benefits," he said. "Is it ever going to be enough? No." The Australia Institute's executive director, Richard Denniss, had a very quick and easy solution for both parties in where they'd find the money to support the country's most vulnerable. "I can save you a fortune," he said on the programme. "$15 billion a year in fossil fuel subsidies, $15 billion a year. "AUKUS, $360 billion... and when Josh Frydenberg was asked, 'Can we afford it?', he said, 'You can always afford it if it's a priority'. "He's right. We're one of the richest countries in the world. "We're so rich we can drop a lazy $360 billion on some nuclear subs we didn't know we need. But sorry, unemployed people. Oh, money doesn't grow on trees."
