Senator the Hon Mathias Cormann

Minister for Finance

18 September 2013 to 30 October 2020

Repeal of the Clean Energy Finance Corporation


Hon. J.B. Hockey MP

Senator the Hon. Mathias Cormann
Minister for Finance


Today, Labor has again joined ranks with the Greens, in defiance of the judgement made by the Australian people at the last election, to vote down the abolition of the Clean Energy Finance Corporation.

The Government took the abolition of the Carbon Tax and the CEFC to the 2013 Federal Election.

This mandate has now been ignored by Labor and the Greens twice.

The Government does not believe it is appropriate to keep borrowing money to underwrite a $10 billion taxpayer funded bank that cherry picks investments in direct competition with the private sector.

Australia does not have a good history with government owned banks.

The Government will reintroduce a Bill to abolish the CEFC next week.

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