Senate debates

Thursday, 15 September 2016

Bills

Budget Savings (Omnibus) Bill 2016; In Committee

9:45 pm

Photo of Mathias CormannMathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

If I may answer—

Honourable senators interjecting—

There is nothing tricky about it whatsoever—I take that interjection. The overall allocation—

Honourable senators interjecting—

If I may answer, the overall allocation remains, at $10 billion, unchanged, but obviously the funds that are available for ARENA to co-administer are now adjusted accordingly, given that there is an $800 million increase in terms of grants funding. What that means is that the capital funding for debt and equity financing for renewables remains precisely as it was. But we are not proposing to double the contribution to ARENA to $1.6 billion; that is not something that we are proposing to do.

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