The Future Made in Australia agenda faced significant opposition from Treasury officials, but over time there has been increasing support for net zero industry development efforts, according to the portfolio’s Macroeconomic Group lead Luke Yeaman.
Mr Yeaman told a Melbourne Institute forum on decarbonising the Australian economy on Monday that “it’s been quite a journey in Treasury” as government support for net zero industries “faced a lot of internal debate or internal opposition and resistance”.
He told attendees there had been a “knee jerk reaction from many economists to say, ‘all of this must be just old-fashioned industry policy, forget it, and there’s no doubt there is some poor policy being used where this is the cover’”.
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