Hydrogen and minerals sector urge passage of Future Made in Australia Production Tax Credits

There is overwhelming support for the Albanese Government’s Future Made in Australia Hydrogen and Critical Minerals Production Tax Credits in the Senate Economics Committee Report, tabled today.

Numerous witnesses of critical minerals and hydrogen peaks and producers called for the swift passage of the Bill through the Parliament.

A Future Made in Australia will be critical to ensure Australian industry and workers benefit from the decarbonising of the economy, to promote economic resilience and to bring more value-adding processing onshore.

These Production Tax Credits are just one part of our Government’s Future Made in Australia agenda, and will mean more project, production and more jobs across the country.

The Senate Economics Legislation Committee report recommended that the Bill be passed.

Quotes attributable to Senator Jess Walsh:

“The net zero transformation is a golden opportunity for Australia, and the production tax credits mean that the Albanese Labor Government is another step closer to making it a reality.”

“The Senate should pass this bill – so we can deliver a Future Made in Australia that will benefit both industry and workers.”

Quotes from witnesses:

Clean Energy Council, Anna Freeman, General Manager, Advocacy and Investment

“… overall we regard it as a no-regrets measure, and we urge the Senate to support its swift passage …”

Chamber of Minerals and Energy of Western Australia, Anita Logiudice, Assistant Director, Policy and Advocacy

“The CME support the swift passage of the bill to implement the CMPTI and HPTI in order to support Australia’s investment attractiveness in these strategic industries”

Australian Hydrogen Council, Dr Fiona Simon, Chief Executive Officer

“We really would like you to swiftly pass this legislation.”

Minerals Council of Australia, Ross Lyon, General Manager, Taxation

“The MCA supports the critical minerals production tax incentive, so we support the concept.”

“We support the bill because the bill is going to help to reduce the cost of production for people that develop facilities downstream.”

Australian Hydrogen Council, Joanna Kay, General Manager, Industry and Supply Chain Development

“From our perspective and based on the things I’ve personally heard from members, the most important thing here is to get this bill passed and to get it done in a timely fashion.”

Smart Energy Council, Wayne Smith, External Affairs Manager

“There are two things I’d emphasise. One is the absolute need to pass this bill as soon as possible and before the election is called. That’s critically important for investment certainty. The second thing is that obviously this bill and the production tax credits are a key part of a future made in Australia, and the Smart Energy Council strongly supports the Australian government’s Future Made in Australia package.”

Australian Council of Trade Unions, Michele O’Neil, President

“If we fail to pass this bill, we’ll be foregoing to the opportunity to create, conservatively, hundreds of thousands of jobs and hundreds of billions in domestic economic activity.”

Department of the Treasury, Marty Robinson, First Assistant Secretary, Corporate and International Tax Division

“We heard through a number of the submissions and the consultation process that timely passage of the legislation and certainty around the rules for which the production tax incentives would apply would be incredibly helpful for businesses, particularly as they’re at various stages of developing project proposals and seeking investment decisions from boards and those sorts of things.”

FRIDAY 31 JANUARY 2025

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