30th Mar 2022, 6:08 PM – Senate Regulations and Determinations - Industry Research and Development (Underwriting New Generation Investments Program) Instrument 2021 - Disallowance

The majority voted against a disallowance motion introduced by WA Senator Dorinda Cox (Greens), which means it failed. A disallowance motion is a motion to stop a certain legal instrument from being law. In this case, the instrument is the Industry Research and Development (Underwriting New Generation Investments Program) Instrument 2021.

What does the instrument do?

Senator Cox explained that:

This instrument is a culmination of a policy announced almost four years ago, affectionately known as UNGI. We were told it was necessary to ensure stable energy supply, but all it's done is cause chaos and havoc with energy investors and halt new energy supply. Energy businesses held off on making their investment decisions for fear that the government was handing out to their preferred coal and gas donors and they would not be able to compete with them. This isn't just rhetoric. The whole process from start to finish has been hidden from public view. There has been no grant criteria. There's just a slush fund for Minister Taylor to pick and choose which projects he wants to fund and donors are encouraged to apply.

Motion text

That the Industry Research and Development (Underwriting New Generation Investments Program) Instrument 2021, made under the Industry Research and Development Act 1986, be disallowed.