The federal government’s $13.7 billion in production incentives for green hydrogen and processed critical minerals will begin to flow in financial year 2027-28, giving the industries time to scale, according to Treasurer Jim Chalmers.
Answering questions following his post-Budget address on Wednesday, Mr Chalmers acknowledged the short-term pressure of lower international critical mineral prices but argued that it’s “primarily a challenge for mining rather than refining and processing”.
Mr Chalmers, who unveiled the package on Tuesday night, said a time limit on the credits will also ensure the Budget is not saddled with the costs forever.
Want to know how this story ends?
Become a subscriber for complete access to all stories on InnovationAus.com and our daily newsletter.
Do you know more? Contact James Riley via Email.