Goodbye ten-billion Australian taxpayers dollars.
AUSTRALIAN companies will be guaranteed the chance to pitch for business flowing from the Gillard government’s $10 billion clean energy fund that Labor will announce today in an effort to sell the benefits of green jobs at home.
Climate Change Minister Greg Combet will announce today that the Clean Energy Finance Corporation, which will provide grants and government investment to green projects, will require candidates to show they are giving local firms a fair go to supply parts and services.
When the criteria for subsidy allocation involves anything other than results, and the successful development of renewable energy (which translates into the profit motive for private investors), the chance of failure increases.
Under these plans, which are already used by the resources sector in return for tax breaks, projects have to demonstrate they have given Australian firms ”full, fair and reasonable opportunity”.
A wind farm, for example, might have to show it has offered Australian firms the chance to supply the turbine towers.