Reforming the scheme would shrink the budget deficit and help Australia hit net zero emissions by 2050, the Grattan Institute says
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The Albanese government has been urged to halve the $8bn a year in fuel tax credits it gives mining trucks, semi-trailers and other heavy vehicles, with a new report finding changes are crucial for budget repair and meeting emissions targets.
Fuel tax credits have been “gnawing away an ever-growing share of fuel tax revenue”, with only half of the current amount spent justified in economic or social terms, according to a Grattan Institute report released on Monday.
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Continue reading…Reforming the scheme would shrink the budget deficit and help Australia hit net zero emissions by 2050, the Grattan Institute saysFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe Albanese government has been urged to halve the $8bn a year in fuel tax credits it gives mining trucks, semi-trailers and other heavy vehicles, with a new report finding changes are crucial for budget repair and meeting emissions targets.Fuel tax credits have been “gnawing away an ever-growing share of fuel tax revenue”, with only half of the current amount spent justified in economic or social terms, according to a Grattan Institute report released on Monday.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…