ACF

The Australian Conservation Foundation (ACF) has called for the removal of billions of dollars of fossil fuel subsidies and investment in a clean, low carbon economy and the environment in its Federal Budget submission.

“It’s time to invest in a clean, low carbon economy essential for longer term prosperity and wellbeing in Australia and to stop subsidising pollution,” ACF executive director Don Henry said.

“The Fringe benefits tax (FBT) concessions for company cars and subsidies for fossil fuel use are tax rorts costing Australian taxpayers more than $2 billion dollars per year while damaging our environment,” said Mr Henry.

“Company cars should be taxed according to how efficient they are, rather than the current system which rewards drivers who drive more. Australia’s wealthiest mining companies also should not be getting tax-payer subsidies for cheap fuel under the ‘Fuel Tax Credit Program’ which costs over five billion dollars per year,” he said.

ACF is calling for investment in:

• Energy and water efficient houses and businesses;
• Boosting solar power and cogeneration through a national feed-in tariff;
• Sustainable transport funding, prioritising public and active transport; and
• A National Biodiversity Conservation and Climate Change Fund to build the health of Australian ecosystems to protect them from the impacts of climate change.