Prime Minister Anthony Albanese has rubbished claims the federal government picks favourites in the renewable energy race amid the fallout of Fortescue’s 700 job cuts.
Prime Minister Anthony Albanese has rubbished claims the federal government picks favourites in the renewable energy race amid the fallout of Fortescue’s 700 job cuts.
On Wednesday, Fortescue announced it would cut 700 jobs in a move it called a “simplification of its structure to ensure it remains lean, impactful and agile”.
The decision affects about 5 per cent of Fortescue’s global workforce, which is about 15,000 direct employees and about 5000 contractors.
The federal government committed more than $8 billion in its 2024-25 budget to support renewable hydrogen production, in
The funding includes $2 billion to expand the existing Hydrogen Headstart program and $6.7 billion to establish a hydrogen production tax incentive that provides $2 per kilogram for green hydrogen.
At a press conference in Townsville, Mr Albanese countered claims his government had picked Fortescue as a favourite.
“We haven’t (picked favourites),” he said.
“If you look at the measures that we put in place in the Budget, they reward success.
“What they’re doing is encouraging investment and that is a good thing.”
Mr Albanese dismissed concerns that Andrew Forrest, one of the nation’s wealthiest people, could not afford to build green hydrogen.
“No, look, that’s a private sector company and there are a range of proposals go(sic) forward,” he said.
“Private companies make announcements.
“Most of today’s announcement of Mr Forrest are about things happening overseas, not happening in Australia.”
He said the job cuts would not impact the government’s net-zero policy.
It comes after Fortescue Future Industries – FMG’s clean energy arm - shelved its plan to build a green hydrogen and ammonia project in Darwin at the Middle Arm Hub.
The Federal Government had committed $1.5 billion for common user marine infrastructure at the Hub.
