Small Business Ombudsman urges government to adopt Finkel Review

Australia's Chief Scientist - Dr. Alan Finkel

The Australian Small Business and Family Enterprise Ombudsman wants the Federal Government to adopt the recommendations of the Finkel Review.

The agency called for a bipartisan approach to energy policy to avoid job losses and business closures.

Ombudsman Kate Carnell says the small business sector could be crippled by rising electricity costs and reduced reliability.

Ms Carnell said both sides of politics should endorse the Finkel Review and adopt its recommendations. She said ongoing electricity price hikes are a threat to business.

“Business as usual is no longer an option. Business as usual is lack of reliable power and exponential price increases,” she said.

“If Parliament obfuscates and refuses to get behind Finkel it will cause small business closures and job losses, it’s that simple.

Political points scoring not helping our energy future

Ms Carnell said politicians were scoring political “brownie points” by shooting each other’s arguments down.

Government urged to adopt Finkel Review.
The Federal Government should adopt the Finkel Review recommendations for a Clean Energy Target says Ombudsman. Image: Pixabay

“The most important issue here is that support from all sides of politics for Finkel gives investment confidence,” she said.

“These investments are long term. You don’t invest in power for two, three or five years. It’s for the long term and investors need confidence there’s not going to be another change of policy when there’s a change of government.”

Finkel Review offers a solution independent of technology

Ms Carnell said the Finkel Review provides a framework for reform but that it is not technology specific. It doesn’t rule in or out any form of generation, including ‘clean coal’ power stations.

“The report’s whole focus is it allows any technology to occur inside certain parameters of emissions,” she said.

“It would allow a current coal-fired power station to be upgraded significantly to make it more carbon efficient, but it also gives rewards for low-emissions technology. There are no penalties, but there are rewards. It’s not a carbon tax because no revenue flows to government,” she added.

“We understand there are a number of projects ready to go. Without confidence that there won’t be policy change the investors are not willing to take the risk, which is totally understandable. The major issue right now is investor confidence.”

 

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