Doubt about funding for keystone climate policy

Finance Minister Mathias Cormann - future
funding will need to be considered.

Long-term funding of the Turnbull government's keystone climate policy remains in doubt as mixed messages emerged from the government about whether further funds will be allocated beyond the current $2.55billion.

Finance Minister Mathias Cormann was reported on Monday as saying that there was no funding for the Emissions Reduction Fund beyond the 10-year period out to 2024 covered by the first phase of the fund.

"Future funding for the Emissions Reduction Fund beyond 2024 will need to be considered through a future budget process," a spokeswoman for Mr Cormann told Fairfax Media on Monday.

The budget for 2016-17, due to be released in May, is yet to be finalised, she said.

Read Peter Hannam’s story in today’s Melbourne Age - “Turnbull government plans to top up Direct Action funds before review.”