University of New South Wales economics professor Gigi Foster has ridiculed Treasurer Jim Chalmers’ net zero claims, dismissing them as politically motivated rather than being based on economic reality.

Mr Chalmers and Energy Minister Chris Bowen spoke to media on Wednesday, with the Treasurer insisting net zero was "a huge economic opportunity for Australia".

“That is a fanatical, dogmatic statement, that’s not an economical statement,” Ms Foster told Sky News host Chris Kenny.

The economist argued net zero needed to be reconsidered, adding proper economics required weighing up all available options, including the option of doing nothing at all.

“Always in economics you must compare the cost of whatever option you’re considering, including doing nothing, to the benefit that you’re ge

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