Overall the 2022/23 budget looks to be pragmatic, consistent and aligned with the pre-budget government commitments and direction of policy discussions when it comes to decarbonisation of our energy systems and economy.
However, it is undermined by the pre-election commitment of no new taxes. This means that multinational fossil fuel exporters who are enjoying superprofits off the back of Russia’s invasion of Ukraine get off scot-free, whilst every Australian pays the price of their exploitation of our public resources, and we continue to be gouged with skyrocketing power prices, a key driver of inflation.
