Treasurer Scott Morrison has stressed what his government will not do in his budget night speech – raise the emissions reduction target and the renewable energy target.
In his speech to parliament on Tuesday night, Morrison said: “We will maintain our responsible and achievable emissions reductions target at 26-28% and not the 45% demanded by the opposition. That would only push electricity prices up.
“And we will not adopt the 50% renewable energy target demanded by the opposition that will also only put electricity prices up.”
Morrison also declared that “all energy sources and technologies should support themselves without taxpayer subsidies”.
The RET scheme, which incentivises renewable energy, will, as planned, be phased out by 2020.
After that, no newly established renewable energy generators will be able to claim subsidies under the market-based scheme.
There are no budget measures relating to the Climate Change Authority – the body responsible for providing expert advice to the government on preventing climate change.