Govt cuts ‘green loan’ spending
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The Federal Government is reducing the number of people who will be able to access so-called ‘green loans’ to improve the energy efficiency of their homes.
The Government was intending to spend $300 million on loans of up to $10,000 for home owners.
The amount of funding has now been reduced to $175 million, but the loans will be interest free for the first four years.
The Government says the change has been prompted by the economic downturn and funding that has been made available for solar hot water rebates and ceiling insulation.
Federal Environment Minister Peter Garrett says the changes are appropriate, given the current state of the economy.
“The green loans program is flanked by substantial investments in household energy efficiency, but we’ve also reframed the program so we can provide household assessments at zero cost. The loans will be interest free,” he said.
But the Federal Opposition environment spokesman Greg Hunt says the Government has broken an election promise.
“We said at the time that they would have massive problems with their green loans scheme, when it comes to delivery,” he said.
“The reality is that they break their promises and there’s always an excuse and there’s always a reason, and it’s always Australian families who either have to pay for it, or miss out.”