From the ABC – 19 February 2010- Federal Environment Minister Peter Garrett is scrapping the Government’s troubled $2.5 billion home insulation program and the solar hot water program.

Mr Garrett says the initiatives will be shut down at close of business today and will be replaced by a renewable energy bonus scheme.

“The risks that are identified in this program at this point in time cannot be managed to an acceptable level,” he said.

The ABC also announced that a new scheme would provide rebates through Medicare system .

Mr Garrett has also announced changes to the Green loans program – saying the loan component will be scrapped.

Read the whole story>>>

and our editorial on this posted last week