SO Australia’s carbon price cards are finally on the table.
From July next year, the Federal Government will look to price greenhouse gas emissions at $23 per tonne rising 2.5 per cent each year.
Then, in 2015, this is replaced by a cap-and-trade system with the price set by the market.
That’s the simple explanation. The devil is in the detail, of which there is an awful lot.
To make the plan politically acceptable, a complex array of exemptions, sweeteners, compensation measures and adjustments to the tax system have been negotiated.
Energy and Climate Change Secretary Amber Rudd has warned that the next Conservative Party leader must have a strong stance on tackling climate change in order to win her support.