Yesterday we reported that the Coalition had released a series of budget cost savings which included $1.5 billion attributed to, "other measures linked to the carbon tax that are wasteful or will no longer be required". It was subsequently confirmed that this $1.5 billion will be made from abolition of the Clean Energy Finance Corporation and changes to the budget of the Australian Renewable Energy Agency. However, the Coalition has declined to provide a breakdown on where and when these cuts are coming from, instead stating further detail will come next week. The Coalition has also stated very clearly that ARENA will continue even though its budget will be reduced, or maybe just deferred.
Yet looking at the numbers the Coalition is claiming, one is left wondering how it will come up with this $1.5 billion figure.