New in the AFR and the Australians yesterday and today:
Australia to get a bigger slice of IRA billions
Australian mining and energy companies could get expanded access to billions of dollars worth of subsidies from US President Joe Biden’s signature Inflation Reduction Act, under deals to grant special status to the country’s defence manufacturing and critical minerals industries.The plans were announced after Prime Minister Anthony Albanese met Mr Biden on the sidelines of the Group of Seven summit in Japan, ......
......And Mr Biden announced he would ask Congress to define Australia as a domestic source for sectors deemed critical such as defence, critical minerals and clean energy.
While details were sketchy, the leaders said the move could make sectors like energy and rare earths a third-pillar of the alliance. It means Australian companies in areas such as hydrogen could get access to US subsidies and other benefits under the US Inflation Reduction Act (IRA) without having to leave Australia..........
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