As we reported in our October Market Update, momentum is building for an agreement to be reached between the government and the crossbench on the first phase of the government’s Direct Action Plan – the Emissions Reduction Fund – with a narrow window for the Senate to vote on the CFI Amendment Bill in the next 48 hours.
Following the release of Senator Xenophon’s proposed changes to the CFI Amendment Bill, the Palmer United Party (PUP) continues to progress in its own negotiations with the Coalition, with a broad framework now believed to be agreed between the parties. This will result in a revision of amendments initially tabled by Senator Xenophon, notably Xenophon’s proposed ‘strategic reserve’, which is unlikely to be included in the final legislation.
