Mining News and Headlines

Australia’s Most Costly Anti-Climate Policy Hits Taxpayers for $30m a Day as Calls Mount to Wind Back Fuel Tax Credits...

Australia’s fuel tax credits scheme is costing taxpayers nearly $10.8 bn this fiscal year – roughly $30 m a day – by refunding excise on diesel and petrol for miners, farmers and other heavy‑fuel users. Critics label it the nation’s most expensive anti‑climate policy, arguing it subsidises fossil‑fuel consumption while the government pledges a 62% emissions cut by 2035. The OECD and domestic climate bodies have called for the exemptions to be removed or capped, but the resources minister says reforms are not under consideration. The debate now centres on whether a rebate cap could recoup billions for decarbonisation efforts.