Last night the Australian Treasurer, Peter Costello, handed down the budget for the nation for the next financial year (2007-08).
There were tax cuts, big increases in spending on higher education, but surprisingly little in response to all the community hysteria over climate change.
There was not a word on a possible carbon tax or emissions trading system – just an $8,000 subsidy for solar panels.
The treasurer reiterated that the government will spend $10 billion over 10 years to conserve and sustain Australia’s water supply – this money will mostly go to the Murray Darling Basin.
You can read more here: http://www.budget.gov.au/2007-08/overview/html/index.htm .