Miners receive twice as much in tax credits as Australia spends on environment

Mining companies will receive more than twice as much in fuel tax credits as the Turnbull government will spend on environment and biodiversity programs this financial year, an analysis has found.

Miners rake it in the cash while the environment wilts.

Coalmining companies alone are expected to get more back than the diminishing funding allocated to the federal environment department.

The analysis by the Australian Conservation Foundation (ACF) found that, across commonwealth, state and territory governments, investment in environment and biodiversity programs was cut by 9% – from $6.95bn to $6.32bn – in the three years to 2016-17. Total budget spending rose by 10% in the same period, from $634.9bn to $701.5bn.

Read Adam Morton’s story in The Guardian - “Miners receive twice as much in tax credits as Australia spends on environment.”

Climate review: Turnbull government will allow companies to purchase foreign carbon credits.

The Turnbull government will reverse course and allow businesses to buy overseas carbon credits to meet Australia's emissions reduction targets, a policy long questioned by climate experts and once labelled "dodgy" by Tony Abbott.

Backed by industry and some climate change observers, the move allows big businesses to purchase emissions reductions in other countries - most likely at lower prices - to offset their own carbon production.

Read the story in today’s Melbourne Age by Michael Koziol - “Climate review: Turnbull government will allow companies to purchase foreign carbon credits.”