Australia unveils budget aimed at becoming 'renewable superpower'

Canberra (AFP) May 14, 2024

Australia touted plans to become a "renewable energy superpower" in an annual budget Tuesday, but the government's books also laid bare the depth of the economy's dependence on mining and fossil fuels. Treasurer Jim Chalmers said the country was on track to bank a budget surplus of US$6 billion (Aus$9 billion) this year, a windfall propped-up in part by surging prices for iron ore and coal.