According to a government spokesperson, “Closing the Renewable Energy Fund will save $11.7 million. Acknowledging the need to support individual projects will be diminished with the introduction of a price on carbon which in itself is designed to reduce carbon intensity.”

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State Treasurer Jack Snelling said: “The 2011-12 State Budget had the lowest net spending on new initiatives in nearly a decade, while all policy decisions made since have been more than offset by new savings and revenue measures.”