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Australia to compensate households for carbon tax
Source: Agencies |
April 13, 2011, Wednesday
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MORE than half of the revenue from Australia's proposed tax on carbon emissions will be spent on compensation for low and middle income earners, Climate Change Minister Greg Combet said today in a bid to win over public support for the tax.
The government wants a carbon tax to start in July 2012, ahead of an emissions trading scheme three to five years later, but has yet to work out the carbon price or what industries will receive compensation for the higher costs.
With Australia's opposition running a strong political campaign against the tax and warning it would push up prices, Combet said the government's plan would mean millions of low and middle income earners would be better off.
"What we're making clear today is that more than 50 percent of carbon price revenue will be used to assist households," Combet told Australian radio, without giving any details.
"We expect that millions of households will be better off under the carbon price arrangements and the assistance will be permanent."
Analysts and the government's top climate adviser, Ross Garnaut, have suggested a starting price for carbon emissions of between A$20 (US$21) and A$30 a ton.
Treasury documents released this month said a carbon tax would increase household costs by between A$580 and A$863 a year, and consumer price inflation by up to 1.5 percent.
A multi-party committee of government, Greens and independent lawmakers is working on the final detail of the policy.
The government wants a carbon tax to start in July 2012, ahead of an emissions trading scheme three to five years later, but has yet to work out the carbon price or what industries will receive compensation for the higher costs.
With Australia's opposition running a strong political campaign against the tax and warning it would push up prices, Combet said the government's plan would mean millions of low and middle income earners would be better off.
"What we're making clear today is that more than 50 percent of carbon price revenue will be used to assist households," Combet told Australian radio, without giving any details.
"We expect that millions of households will be better off under the carbon price arrangements and the assistance will be permanent."
Analysts and the government's top climate adviser, Ross Garnaut, have suggested a starting price for carbon emissions of between A$20 (US$21) and A$30 a ton.
Treasury documents released this month said a carbon tax would increase household costs by between A$580 and A$863 a year, and consumer price inflation by up to 1.5 percent.
A multi-party committee of government, Greens and independent lawmakers is working on the final detail of the policy.
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