It’s no understatement that last week’s Federal budget was bad for climate change. The Rudd Government, fresh from its emissions trading backdown, once again failed to live up to its rhetoric. It failed to act on “the greatest scientific, moral and economic challenge of our time”. And it failed to deliver the scale of investment needed to drive our transition to a clean energy economy.
There was a belief that the 2010 budget would include some big investments to combat the climate crisis. Rudd’s decision to delay the Carbon Pollution Reduction Scheme (CPRS) to 2013 coincided with a sharp decline in public support for the government. The Prime Minister’s own approval rating has collapsed in recent weeks, falling 14 points to 45 per cent – the lowest level since taking office in 2007. The budget was regarded as a way for Rudd to regain his edge on climate policy. He would have the opportunity to restore the confidence of voters suspicious of his government’s commitment to climate change.
As we now know, the government’s investment in renewable energy was markedly less than the year earlier. But should this come as a surprise? No. It shouldn’t.