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Liberals To Invest In Cleaner Energy Technologies

The Victorian Liberal Party has re-affirmed its commitment to the establishment of new greenhouse abatement technologies, Shadow Minister for Energy Philip Davis said today.

By Parliament of Victoria - 10th November 2006 - Back to News

Mr Davis said a Liberal Government would focus on the development of new greenhouse abatement technologies rather than forcing consumers to provide $2 billion to subsidise established technologies through the Victorian Renewable Energy Tax.

The operation of VRET is designed to favour wind farm developers, which will not lead to the development of new technologies or significantly reduced greenhouse gas emissions.

"The Liberal Party believes there needs to be a national approach to greenhouse abatement for it to be effective, with consistency across all jurisdictions unlike the prevailing, apparently ad-hoc state-by-state approach.

"That is why a Liberal Government will establish a Greenhouse Gas Reduction Fund, which will complement the model adopted by the Federal Government in its Low Emissions Technology Demonstration Fund.

"Our fund will redirect brown coal royalties, facilitating $2 billion of investment in Victoria’s greenhouse gas abatement technologies over 20 years.

"The purpose of the fund will be to foster low emission technologies and leverage projects that directly impact greenhouse emissions from industry."

Mr Davis said Labor’s renewable energy tax would not only prove ineffective in reducing greenhouse emissions, it would also be detrimental to the economy.

"According to Access Economics, Labor’s renewable energy tax will have an adverse impact on Victorian employment in the long term," he said.[1]

"The report predicts a net loss of more than 1000 full-time equivalent jobs.

"The report estimates that electricity price rises will cost the Victorian economy $829 million (net present value) over the period of the scheme.

"This is a reckless policy, given the minimal impact this tax will have on greenhouse gases, the extra cost to consumers and the overall economic damage this tax will cause to Victoria.

"Therefore the Liberal Party will reposition Victoria’s approach to greenhouse gas reduction when in Government by repealing the taxing mechanism under VRET and investing in new technologies which will be good for the economy, employment and the environment."

[1] ‘Economic Impacts of a Renewables Energy Target on the Economy’, Access Economics, 6 June 2006

Source: http://gippsland.com/

Published by: news@gippsland.com

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