Liberal MPs scorn National’s $250bn plan for taxpayers to underwrite fossil fuels

Keith Pitt’s proposal, which suggests huge loans for resources sector in return for his party backing net zero, left on table by Scott Morrison

A controversial proposal to create a $250bn loan facility for the resources sector in return for National party backing for a net zero emissions target has been met with scorn by metropolitan Liberals.

But Scott Morrison has left open support for a taxpayer-backed loans or insurance facility – or a jobs guarantee – as the prime minister chases support from the National party for a net zero commitment ahead of the Cop26 in Glasgow.

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