Australia’s conservative coalition is set to cut more than 90 percent of the funding related to global warming from their budget, from $5.75 billion this year to $500 million, over the next four years.
Environmentalists and leftist politicians in the country protested the move by conservative Liberal Party Prime Minister Tony Abbott’s governing coalition to slash funding for climate programs, arguing such funding for green energy and reducing carbon dioxide emissions were necessary to stop global warming.
But Abbott’s government shot back, saying that the country needed to reduce the size of government and improve the economy.
“The coalition government acknowledges the role of renewable energy in Australia’s energy mix,” said Industry Minister Ian Macfarlane. “There is over $1 billion in funding for existing renewable projects to be completed over the coming years.”
“Given the tight fiscal environment as a result of [liberal] Labor’s legacy of debt and deficit, the government considers there is a very significant investment in renewable energy,” MacFarlane added.
Abbott’s Liberal-National coalition won a landslide victory in Australia’s election last fall. One of the main promises of Abbott’s coalition was to repeal the country’s carbon tax and costly environmental agenda.