National Reconstruction Fund could become slush fund for coal and gas, Estimates confirms

2023-02-18

Questions in Senate Estimates asked by Australian Greens Industry spokesperson Senator Penny Allman-Payne revealed that the Government could use the $15 billion National Reconstruction Fund as a slush fund for coal and gas.

The Department of Industry, Science and Resources confirmed that under the proposed legislation currently before Parliament, the Government of the day could invest in coal and gas by simply changing the priority investment areas. 

With the Coalition opposed to the legislation, the Australian Greens are in balance of power, and are currently in the process of negotiating in good faith with the Government to insert guardrails into the Bill to prevent it being used as a slush fund for coal and gas.

Comments attributable to Greens Industry spokesperson Senator Penny Allman-Payne:

“Without proper guardrails which establish what the fund can be used for, the National Reconstruction Fund could become a Ministerial slush fund for fossil fuel finance.

“The Greens have been very clear that we won’t support any new coal and gas, and the legislation in its current form is wide open to abuse.

“We look forward to continuing to work with the Government to get this legislation right.”