Australia sets price for carbon dioxide pollution
Source: Agencies |
July 11, 2011, Monday
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Print Edition
Print Edition
AUSTRALIA will force its 500 worst polluters to pay A$23 (US$25) for every ton of carbon dioxide they emit, with the government promising to compensate households hit with higher power bills under a plan to reduce greenhouse gas emissions unveiled yesterday.
Prime Minister Julia Gillard sought to reassure wary Australians that the deeply unpopular carbon tax will only cause a minority of households to pay more and insisted it is critical to helping the country lower its massive carbon emissions. Australia is one of the world's worst greenhouse gas polluters, due to its heavy reliance on coal for electricity.
"We generate more carbon pollution per head than any other country in the developed world," Gillard told reporters in Canberra as she released details of the tax, which will go into effect on July 1, 2012. "We've got a lot of work to do to hold our place in the race that the world is running."
The government hopes businesses affected by the tax will seek out clean energy alternatives to reduce their bills. The affected companies will have to pay A$23 per metric ton of carbon, with the price rising 2.5 percent a year until 2015, when the plan will move to a market-based emissions trading scheme.
The carbon tax is the government's main tool in meeting its pledge to reduce Australia's greenhouse gas emissions by 2020 to at least 5 percent below 2000 levels. By then, the tax will have helped cut carbon pollution by 160 million metric tons - the equivalent of taking 45 million cars off the road, Gillard said.
Critics of the plan say Australian households will be unfairly burdened by higher costs passed onto them by the big polluters. To help compensate for the higher bills, nine out of 10 households will receive some assistance in the form of income tax cuts and payments. Two-thirds of all households will receive enough assistance to cover the entire financial impact of the tax, Gillard said.
Under the plan, the average household will see its costs increase by A$9.90 a week, which includes an additional A$3.30 per week for electricity and another A$1.50 weekly for gas. But the government says on average, households will get A$10.10 a week in assistance.
Industries affected by the change will get A$9.2 billion in compensation over the next three years, with the worst-hit businesses expected to be steel and aluminum manufacturers.
Conservative opposition leader Tony Abbott, an outspoken critic of the plan, insisted it will drive up the cost of living for millions of Australians and will do nothing to help the environment.
"It's socialism masquerading as environmentalism," Abbott said. "It's a package which is all economic pain for no environmental gain."
The Australian Chamber of Commerce and Industry said the tax would weaken the economy and do little to help the environment.
Prime Minister Julia Gillard sought to reassure wary Australians that the deeply unpopular carbon tax will only cause a minority of households to pay more and insisted it is critical to helping the country lower its massive carbon emissions. Australia is one of the world's worst greenhouse gas polluters, due to its heavy reliance on coal for electricity.
"We generate more carbon pollution per head than any other country in the developed world," Gillard told reporters in Canberra as she released details of the tax, which will go into effect on July 1, 2012. "We've got a lot of work to do to hold our place in the race that the world is running."
The government hopes businesses affected by the tax will seek out clean energy alternatives to reduce their bills. The affected companies will have to pay A$23 per metric ton of carbon, with the price rising 2.5 percent a year until 2015, when the plan will move to a market-based emissions trading scheme.
The carbon tax is the government's main tool in meeting its pledge to reduce Australia's greenhouse gas emissions by 2020 to at least 5 percent below 2000 levels. By then, the tax will have helped cut carbon pollution by 160 million metric tons - the equivalent of taking 45 million cars off the road, Gillard said.
Critics of the plan say Australian households will be unfairly burdened by higher costs passed onto them by the big polluters. To help compensate for the higher bills, nine out of 10 households will receive some assistance in the form of income tax cuts and payments. Two-thirds of all households will receive enough assistance to cover the entire financial impact of the tax, Gillard said.
Under the plan, the average household will see its costs increase by A$9.90 a week, which includes an additional A$3.30 per week for electricity and another A$1.50 weekly for gas. But the government says on average, households will get A$10.10 a week in assistance.
Industries affected by the change will get A$9.2 billion in compensation over the next three years, with the worst-hit businesses expected to be steel and aluminum manufacturers.
Conservative opposition leader Tony Abbott, an outspoken critic of the plan, insisted it will drive up the cost of living for millions of Australians and will do nothing to help the environment.
"It's socialism masquerading as environmentalism," Abbott said. "It's a package which is all economic pain for no environmental gain."
The Australian Chamber of Commerce and Industry said the tax would weaken the economy and do little to help the environment.
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