Opposition Leader Tony Abbott says “millions of Australians will be worse off” under the Government’s carbon price scheme.
Prime Minister Julia Gillard has unveiled the details of the scheme she says will chart Australia’s course to a “clean energy future”, saying the price on carbon pollution will start at $23 per tonne from next year and then increase by 2.5 per cent above inflation until a market-based trading scheme takes over in 2015.
More than $15 billion is being set aside to compensate households via tax reform and direct payments, and the Government says the average household will be 20 cents a week better off.
Mr Abbott said that when the Government said 90 per cent of households would get compensation and 40 per cent would be overcompensated, it really meant that 10 per cent of households would get “absolutely nothing” and 60 per cent would be either worse off or “line ball”.
As more details comes to light, I will post more information about this tax no ones wants and is being shoved down our throats!
…PROFESSOR Ross Garnaut has told the Federal Government it must.push to reduce international greenhouse pollution by up to 25 per.cent by 2020 but concedes there is just a chance this will.happen.. The failure of our generation would lead to consequences that.would haunt humanity until the end of time Professor Garnaut said.at yesterdays release of his final report on the challenges of.climate change..Consumers will bear the brunt of the cost of action with a 25.per cent reduction power prices would rise by 37 per cent by.2020..A more modest goal of reducing emissions by 10 per cent would.lead to rises of 21 per cent..Overall the cost of action would add about 1 per cent to the.consumer price index less than the effect of GST when it was.introduced in 2000..Professor Garnaut urged the Government to continue its plan for.an emissions trading scheme to begin in 2010 regardless of.international economic circumstances.. Financial crises are short-term phenomena Climate change.is a long-term structural issue he said..When Professor Garnaut released an earlier version of the report.at the beginning of September he downplayed the chances of world.nations reaching an agreement that would reduce greenhouse.pollution enough to prevent dangerous levels of global warming..Yesterday he remained pessimistic about that possibility but.said Australia should continue to push for an ambitious agreement.with cuts in emissions of up to 25 per cent by 2020..But Professor Garnaut left the Federal Government some wriggle.room suggesting it could settle on a target of between 10 per cent.and 25 per cent.. We are entering territory here that humanity has not been in.before he said.. We will delude ourselves if we think that uncertainty about the.climate change science . is a cause for delay. .Professor Garnaut criticised aspects of the Federal Governments.approach to emissions trading saying there was no case for.coal-fired power producers to receive compensation either in the.form of free permits or cash..He said there should be fewer free permits for industries.classified as trade exposed such as the aluminium companies which.argue they will be at a disadvantage against international.competitors operating in countries without emissions trading..The Minister for Climate Change Penny Wong said the report.made a strong case for early action..The Government will release further modelling from the Treasury.later this month before announcing its range of targets for 2020.later in the year..It will then participate in critical discussions in Copenhagen.next year when it will be known whether the international community.is prepared to make the cuts to emissions scientists say are.necessary to prevent dangerous climate change..The Greens senator Bob Brown said pursuing an ambitious.reduction target would mean people faced an overall payment of 1 a.day.. The Garnaut report shows our economy will continue to grow.strongly regardless of whether we pursue ambitious or weak.targets Senator Brown said.. Either way the cost is negligible. …