If the proposed Adani mine is not viable without public subsidies then the government are backing the wrong horse
If Malcolm Turnbull does provide $1bn in taxpayer support to the Adani Carmichael coalmine via the Northern Australia Infrastructure Facility (NAIF) it will show that while the prime minister may have lost many things in the past 12 months, he has not lost his agility. The man who once staked his leadership on the need for Kevin Rudd’s carbon price will be the champion of subsidising the world’s largest new coalmine.
Never before has one announcement destroyed so many political cliches, so quickly, for so little political gain. In offering public money to subsidise the major cause of climate change, the PM simultaneously kills the idea that the Coalition is concerned about excessive public spending AND that they believe the world is committed to reducing greenhouse gas emissions. So much for faith in the market, the need to embrace the technologies of the future and the idea that our cities are the engine of prosperity and productivity.
Related: Opposition to public funding for Adani rail link outweighs support, poll finds
Related: George Christensen backs $1bn federal loan for Adani railway line