Jim Chalmers kicks off production tax credit consultation
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The news: Treasurer Jim Chalmers will release consultation papers on production tax credits on Friday that he says will incentivise investment in the new economy.
The context: On Friday, Chalmers will tell Citi A50 Australian Economic Forum in a speech that the two Treasury consultation papers are to seek input on the design and implementation of the reforms.
Chalmers is also expected to double down on Labor's economic credentials, telling investors that May's monthly financial statement will confirm the government is on track to deliver its second consecutive surplus providing a "buffer against global uncertainty".
The Albanese government will be introducing its Future Made in Australia legislation into Parliament next week, which Chalmers said would provide investors with "clarity and certainty" to help them invest and grow the economy.
This is expected to detail the national interest framework, used to identify sectors where Australia has a comparative advantage or economic security needs. There will also be an assessment process to help remove barriers to investment and a new "set of principles" for this new investment.
What they said: "Our production tax credits will incentivise investment in renewable hydrogen, boost production of critical minerals and create jobs and opportunities for Australians," Chalmers will say in the speech on Friday.
The source: Treasurer's speech
