Stephen Jones (Whitlam, Australian Labor Party, Assistant Treasurer) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

This bill seeks approval for appropriations from the Consolidated Revenue Fund of $5.1 billion for the 2024-25 financial year. These appropriations will support the following significant items.

The Department of Climate Change, Energy, the Environment and Water will receive over $3.6 billion, including $2 billion to support investments in renewable energy, energy efficiency and low emissions technologies, and close to $1.2 billion for Rewiring the Nation to invest in transmission and distribution projects critical to Australia's energy transition. The department will also receive $530 million to fast-track household energy upgrades that improve energy efficiency and save energy.

The Department of Defence will receive over $484 million. This primarily reflects a reclassification of the department's existing resources to support the delivery of capabilities prioritised within the 2024 National Defence Strategy and 2024 Defence Integrated Investment Program.

The Department of Infrastructure, Transport, Regional Development, Communications and the Arts will receive over $373 million, including funding for the NBN Co to upgrade an additional 622,000 fibre-to-the-node connections and financing to support the continuation of the Regional Express (Rex) administration process to 30 June 2025.

Full details of the proposed expenditure are set out in the schedule to the bill, the explanatory memorandum, and the portfolio additional estimates statements.

On this basis, I commend this bill to the chamber.

Debate adjourned.