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New report finds G7 nations have been pumping more money into fossil fuels than clean energy between January 2020 and March 2021, despite pledges to “build back better” Coal, oil and gas received US$189 billion in support, compared to $147 billion for clean forms of energy, since the start of the pandemic More than 8 in every 10 d
New report finds G7 nations have been pumping more money into fossil fuels than clean energy between January 2020 and March 2021, despite pledges to build back better .
Federal tax breaks to continue ute boom
Federal tax breaks to continue ute boom
May 12, 2021
Budget overlooks electric cars but all motorists to benefit from road infrastructure funding
The federal government’s big-spending budget has delivered good news for business owners with the extension of the instant asset write-off scheme that has been instrumental in stimulating strong growth in vehicle sales, particularly utes.
Now known as the ‘temporary full expensing’ measure, the write-off was introduced early in 2020 as the COVID-19 pandemic took hold in Australia (and was revised later in the year) to allow businesses with a turnover of up to $5 billion to write off the full value of an eligible asset such as a work vehicle.
Climate Council
Federal Budget 2021: Australia’s green recovery failure costs jobs
THE AUSTRALIAN GOVERNMENT’S failure to fund a clean recovery from COVID-19 is a national shame and a lost opportunity to create jobs, the Climate Council said ahead of the Federal Budget.
Data from the Global Recovery Observatory shows that Australia has spent US$130 billion on COVID recovery efforts but less than two percent of that money has been spent on solutions to reduce emissions.
In contrast, Germany and France allocated 47% and 50% of their respective recovery spending to clean solutions.
“Among major economies and our strategic allies, Australia is right at the bottom of the pack when it comes to spending on solutions that reduce emissions, create jobs and strengthen our economy,” said Climate Council spokesperson and economist Nicki Hutley.