Labor’s decision to write a blank cheque on behalf of Australian Taxpayers to bring more renewables online is a glaring admission that its climate and energy policies have failed.
Labor’s decision to underwrite new renewable energy projects responds to a 40% drop in investment since Labor came to office, making its 82% renewables target to 2030 unachievable.
Instead of learning lessons from its failure, Labor is doubling down and it will be everyday Australians that have to pay the bill.
And how much will it cost? Labor refuses to say. In other words, it’s a blank cheque.
Instead of keeping Australians safe, building critical roads and rail and fixing its cost-of-living crisis Labor is doubling down on a ‘renewables only’ plan that has lost all credibility.
Labor’s 43% emissions reduction target, 82% renewable energy target, 89% electric vehicle target and the all-important $275 reduction in power bills are all set to fail.
This risks locking Australia into a path from which there may be no return, and future generations will be destined for energy poverty and energy insecurity.
Labor is failing on all counts when it comes to climate change and energy.
In fact, under Labor, electricity prices have hit record highs with families paying up to $1000 per year more on their bills.
Labor must abandon its reckless 'renewables only' ideology and adopt an 'All-of-the-Above' approach, as the Coalition has done, if it wants to cut emissions while keeping the lights on and prices down.