The first announcement was a proposed national fuel reserve to use historically low oil prices to improve the country`s domestic supply. According to the Department of Industry, Science, Environment and Resources (DISER), Australia had a net import coverage of 63 days as of July 31, 2020. The government`s policy would subsidize Australia`s four remaining oil refineries and fund the construction of new diesel storage tanks at a cost of $2.4 billion. The government argues that improving fuel safety and domestic capacity will cap fuel prices. The government will also legislate in favour of an alternative carbon pricing policy based on a carbon tax, the Red Book reads, with a consultation on the details in « spring 2020 ». But he added that much was now based on the national infrastructure strategy, postponed until later in the spring, as well as a spending review in July and a finance ministry review to net zero before Britain tackles the upcoming UN climate summit in Glasgow in November. On the basis of the Commission`s proposal, the political agreement of the Extraordinary European Council of 17-21 July 2020 sets an overall climate target of 30%, applicable to total spending in the next generation EU-EU-EU budget 2021-27, the main instrument for implementing the Economic Recovery Plan. Ahead of the budget, Friends of the Earth said the £5.2 million circulating this year under the Countryside Stewardship Scheme for reforestation in England would only support 1,260 hectares of new trees.