Politics Green Loans - It's a start

[Mundy]

Anyone else looked into this new initiative being rolled out by the Rudd government?

Basically Rudd and his cronies are offering your regular punters access to 10k, four year interest free loan to improve their homes in terms of greenhouse gas emission.

Money can be for anything from a Solar hot water panel to a new fridge.

Im a conservative voter, but I am willing to commend progress, I feel this is a small step in the right direction.

Thoughts?

 

[bit_pattern]

Gee, I wonder how easy it'd be to find a dodgy tradie willing to bodgy up a receipt and get yourself a nice 10k paycheck?

I think the money could be better spent personally. We need real solutions to climate change, not token efforts and shameless middle-class welfare vote buying.

 

[Mundy]

Gee, I wonder how easy it'd be to find a dodgy tradie willing to bodgy up a receipt and get yourself a nice 10k paycheck?

Doesnt work like that.

http://www.environment.gov.au/greenloans/

Got sent an email about it today.

I think the money could be better spent personally. We need real solutions to climate change, not token efforts and shameless middle-class welfare vote buying.

Please go on, what are these real solutions you speak of?

 

[bit_pattern]

Doesnt work like that.

http://www.environment.gov.au/greenloans/

Got sent an email about it today.

Well, that's a shame, but not surprising.

Please go on, what are these real solutions you speak of?

UTSE, there are two threads dedicated to the topic.

But, a good start would be pouring this cash into renewable energy investment, R+D for promising new technologies, or fixing inefficiencies in the power grid.

 

[bit_pattern]

Although, admittedly, I missed the whole 'loan' part of this scheme. That's not as bad as I initially thought. I was thinking along the lines of baby bonus cash handouts. My mistake, I jumped the gun a bit methinks.

 

[Mundy]

Although, admittedly, I missed the whole 'loan' part of this scheme. That's not as bad as I initially thought. I was thinking along the lines of baby bonus cash handouts. My mistake, I jumped the gun a bit methinks.

No worries mate.

I dont think there will ever be a perfect solution to the issue, but this is a start.

The fact that households will be given a free report on how to improve their households in terms of energy use gets the ball rolling.

Given the fact that some retailers offer interest free terms on their loans, only to slug punters in excess of 25% during the repayment period, the government scheme represents a real saving.

 

[bit_pattern]

The link was interesting, might get them over to check out my mum's house. It's pretty much decked out as far as fluoro lighting and water saving devices but if they can see a way to make the place more eficient and spot her ten large interest free to do it then that's an opportunity I might just have to jump on to it.

 

[HarryTiger]

It's 10K worth of debt, or a bit less after 4 years in future terms. 4 years, to the 'punters' that's an eternity, they won't even consider the ramifications of a deeper debt hole. Yeah go for it it's not like the government will reposess your home over it, would be a PR disaster.

 

[Mundy]

It's 10K worth of debt, or a bit less after 4 years in future terms. 4 years, to the 'punters' that's an eternity, they won't even consider the ramifications of a deeper debt hole. Yeah go for it it's not like the government will reposess your home over it, would be a PR disaster.

What?

Did you even read how the program works?

 

[bit_pattern]

Good work, Mundy. Spoke to my deal old mum and we're getting an assessment to get solar hot water installed at her place

 

[EasternTiger]

Thoughts?

My thoughts. Extremely irresponsible to encourage people to take out loans. Why can't they just give a tax break to those who are 'turning green'? Maybe because that will actually cost them revenue.

All the government have done is ring a bunch of credit providers and sign them up. It's no different to the interest free Harvey Norman deals you see on tv. Interest free means you pay full retail for your goods, then the finance company pays the retailer 70%-80% of the purchase price and then makes their 20-30% profit from your repayments. If you take longer than the interest-free terms then you get whacked interest. There's no such thing as interest free.

If people are that concerned about their carbon footprint they should save up, and then bargain for their new fridge or hot water service. Why pay full retail with a loan when you can easily get up to 50% off in some cases if you pay cash.

It's just perpetuating the instant gratification-now-payment-pain-later mentality that needs to go away in this country.

And any time you see a "free assessment/free report/free consultation valued at $xx" it's one of the oldest marketing tricks in the book. The assessor will be there to 'pitch' you on going green and signing up for loans. These will be the door-to-door crowd who would sell their own mother to make a buck

 

[bit_pattern]

All the government have done is ring a bunch of credit providers and sign them up. It's no different to the interest free Harvey Norman deals you see on tv. Interest free means you pay full retail for your goods, then the finance company pays the retailer 70%-80% of the purchase price and then makes their 20-30% profit from your repayments. If you take longer than the interest-free terms then you get whacked interest. There's no such thing as interest free.

Codswallop. Most of the participating institutes are credit unions, which tend to be a whole lot more ethical than finance companies or banks, and the providers have to adhere to: "national requirements for passing on the subsidy. This agreement includes safeguards to ensure that the full subsidy is passed on to the household through reduced cost finance." That is nothing like the Harvey Norman version o interest free.

 

[EasternTiger]

Codswallop. Most of the participating institutes are credit unions, which tend to be a whole lot more ethical than finance companies or banks,

Institutes? As far as I was aware they were just common credit providers. I don't see how calling them institutes makes them anymore user-friendly. If you don't pay them back you'll get a default and legal action taken against you. Just like the banks and finance companies.

and the providers have to adhere to: "national requirements for passing on the subsidy. This agreement includes safeguards to ensure that the full subsidy is passed on to the household through reduced cost finance." That is nothing like the Harvey Norman version o interest free.

Define reduced cost. All the legal jargon essentially says is "we'll give you an interest free loan for up to 4 years". Just read the fine print before you sign sunshine. Oh and make sure your dear old mum takes the time to do the same while you're shoving the global warming graphs in her face. Wouldn't want her getting into financial difficulties all because her son is an....well you know where I'm going

 

[bit_pattern]

Institutes? As far as I was aware they were just common credit providers. I don't see how calling them institutes makes them anymore user-friendly. If you don't pay them back you'll get a default and legal action taken against you. Just like the banks and finance companies.

Any bank is an "institute". Semantics fail.

And yes so will the government if you get a loan off them and default. That has nothing to do with the ethics of a credit union compared with GE Money.

Define reduced cost. All the legal jargon essentially says is "we'll give you an interest free loan for up to 4 years". Just read the fine print before you sign sunshine. Oh and make sure your dear old mum takes the time to do the same while you're shoving the global warming graphs in her face. Wouldn't want her getting into financial difficulties all because her son is an....well you know where I'm going

Only an idiot would take a loan without reading the fine print, I don't know what point you are trying to make.

 

[cancat]

Way to go Ruddy. The Greens think this scheme is a farce.

The Rudd Government's Green Loans Scheme cannot handle the community demand and is headed for collapse, according to figures obtained in Senate Estimates hearings late last night.

"Tens of thousands of Australian families and households have registered their interest in greening up their homes, but a pitiful 58 loans have been processed to date," Australian Greens Deputy Leader, Senator Christine Milne said.

"Demand for green loans outstrips the scheme's capabilities by so much that it is headed for the same fate as the rooftop solar rebate, solar schools program and other green initiatives that have been unceremoniously dumped when they became too successful."

http://christine-milne.greensmps.org.au/content/media-release/green-loans-scheme-headed-collapse

 

[Niximus]

I think it's a good idea, I actually had it about a year ago.

When you think about it, if you use it correctly it's not really that much of a burden.

ATM I pay approx $400 per quarter in electricity bills. If $10,000 could be used to supply solar to my house then $10,000 over 4 years is $2,500 per year or $625 per quarter.

So less than $20 per week in addition to what I am paying now and in 4 years time I get free electricity (and if I sell my house before then an electrically self-sufficient house is obviously a plus).

I live in a block of townhouses and have considered going to the other owners to see if we could band together and take advantage of some of the grants down there. I believe there was $1,600 in grants available for insulation, if you could get all the owners together and go through one supplier, you'd get a decent bulk discount and should still get your grants individually.

 

[Z_K]

I'd rather give 10k to the long term unemployed, the homeless, carers or sufferers of natural disasters.

****ing climate change is giving me the shits. It's too far gone. The planet is doomed. I say the people left over in most need move to the top of the queue in the order of every governments "we give a shit" in-tray and we drop the charade.

 

[DeanoT]

I'd rather give 10k to the long term unemployed, the homeless, carers or sufferers of natural disasters.

****ing climate change is giving me the shits. It's too far gone. The planet is doomed. I say the people left over in most need move to the top of the queue in the order of every governments "we give a shit" in-tray and we drop the charade.

There is no "giving", it is a loan. Must be paid back.

You don't think inhabitants of pacific islands wouldn't consider themselves sufferers of a natural disaster if their land disappears beneath the ocean ?

If it is all too far gone, then we might as well start firing up the nukes so we can all go out in style. Don't think we've quite reached that stage just yet.

 

[bit_pattern]

Way to go Ruddy. The Greens think this scheme is a farce.



http://christine-milne.greensmps.org.au/content/media-release/green-loans-scheme-headed-collapse

From what you quoted, it sounds to me as if they think the scheme is a good idea but it's just been poorly executed.

 

[cancat]

From what you quoted, it sounds to me as if they think the scheme is a good idea but it's just been poorly executed.

Isn't that what the Labor Party is about? Gaining greenie votes but paying lip service to the policies. I guess we should be thankful.

 

[bit_pattern]

Mostly. I've got no real love for the ALP's environmental policies, except that they are better than the opposition's.

 

[bit_pattern]

Mostly. I've got no real love for the ALP's environmental policies, but they are better than the opposition's, that's their strength.

 

[HarryTiger]

What?

Did you even read how the program works?

What? Do you have any idea of the meaning of the term loan?

 

[cancat]

Mostly. I've got no real love for the ALP's environmental policies, but they are better than the opposition's, that's their strength.

Mutual then as the ALP and the opposition, who happened to get over 90% of the vote at the last election, have no real love for your environmental policies. Such as banning dogs. Woof woof.

 

[bit_pattern]

Yes. I want to ban dogs.