The Albanese Labor government has allocated $76.2 million (US$50 million) over the next five years to engage in “international climate change” issues.
Included in this funding, is support for the Australian government’s bid to host the next UN Conference COP31 together with Pacific nations.
The budget papers also reveal that the federal government will more than double funding for the Net Zero Authority, set to be debated in Parliament on May 15.
Treasurer Jim Chalmers delivered the 2024-25 Budget at 7.30 p.m. on May 14, stating in his speech the government’s priorities were helping with cost of living, building homes, and investing in local manufacturing to power the net zero transition.
Within this paper, the government explains millions of dollars will be allocated for the Department of Climate Change to engage with the U.N. Framework Convention on Climate Change, G20, and the International Energy Agency to “bolster trade opportunities and enhance security relationships with key partners.”
“The government will provide an additional $76.2 million over five years from 2023–24 (and an additional $0.3 million from 2028–29 to 2029–30) to support Australia’s continued engagement in international climate change and energy transition issues,” it states.
This includes a “bid to co-host the 31st Conference of the Parties (COP31) in partnership with the Pacific and undertake initial planning in the event of a successful bid.”
$1 Billion For the Net Zero Authority Over Next 10 Years
Also detailed in the budget documents, is more than $1 billion in for the Net Zero Economy Authority over the next 10 years. This funding allocation is more than double what was announced by Prime Minister Anthony Albanese and Chris Bowen in March 2024.It includes $399.1 million over five years from the 2024 financial year, along with another $616.8 million between the 2029 and 2035 financial year.
In addition, a further $93.4 million per year will be provided on an ongoing basis to fund the Authority.
Opposition Treasurer Responds
Shadow Treasurer Angus Taylor raised concerns about the billions of dollars of new spending in the budget..“In this Budget, Labor has added $315 billion of new spending, at a time when we need restraint. That’s $30,000 of extra spending for every Australian household,” he said in a statement sent to The Epoch Times.
Mr. Taylor described the federal budget overall as a “big spending, big taxing con job.”
“Tonight we needed a budget that restored budget discipline and honest by restraining spending, bringing back the fiscal guardrails, a tax to Gross Domestic Product cap and delivering a structural surplus, not a windfall surplus.”
The shadow minister also said the Albanese government is boosting the size of the public service with an “astonishing 36,000 additional bureaucrats in Canberra,” he said.
Treasurer Spruiks Responsible Budget
However, Treasurer Jim Chalmers said it was a responsible budget aimed at assisting people under pressure. He outlined tax relief for Australians, and a $300 energy rebate handout to help Australians with cost of living pressures.
“Our new tax cuts for middle Australia are the biggest part of the cost of living relief in this Budget. From July 1, all 13.6 million taxpayers will get a tax cut,” he said.“Just as every Australian taxpayer will get a tax cut, every Australian household will get energy price relief. From July 1, Australians will receive an energy rebate of $300–and one million small businesses will get a bit more.”
