The Nationals will not allow a tax on CO2 but will spend big with taxpayer money to retain fossil fuels in the face of science and economics.
If we do not act to curb coal and gas development in Australia, overseas investors will attach a higher risk to lending to us and so charge us higher interest rates.
Resources Minister Keith Pitt has also suggested there should be a $250 billion fund of taxpayers’ money set aside to keep the coal and gas industries going because the banks won’t lend to them anymore.
And now Barnaby Joyce wants taxpayers to foot the bill… to extend the inland rail project from Brisbane to Gladstone. A project that will only be economical if it is used to carry coal for export to Gladstone for the next 40 years. Really? The Nationals yet again have backed the wrong horse, as asking voters at the next election to pay higher taxes and, potentially, also higher home loan interest rates to further support the fossil fuel industries certainly isn’t a vote winner as far as I am concerned.
Trevor Hoare, Mirboo North.
Editor: Edited for space.