Budget already reaping the dollars from emissions trading

13 May, 2009 09:45 AM

THIS year's budget is the first to contain forecast revenue from the proposed Carbon Pollution Reduction Scheme (CPRS), even before it's been introduced as legislation or passed by the Parliament.

The Budget papers reveal revenue from the CPRS is expected to be around $4.5 billion in 2011-2012 once the CPRS commences at the Government's forecast date of July 2011.

The CPRS will start with a fixed statutory carbon price of $10 a tonne.

In 2012-2013, CPRS revenue is expected to increase to around $13 billion once the market is allowed to determine the price for carbon.

FarmOnline National News Bureau, Parliament House, Canberra

Source: http://www.farmonline.com.au

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comments

Date: Newest first | Oldest first

So the trick here is fix the tax on carbon at $10 per tonne initially to get it through. Then allow the market to set the price and the government trebles the tax without being seen to do anything. All this and the science that it is all based on still isn't conclusive.

Posted by John Michelmore, 13/05/2009 10:36:50 AM

John, you are a climate sceptic! The government is only taxing us so that it can help other industries!

The government has only our (insert the most appropriate word...interest, safety, health etc.) as its concern.

For instance, we must see the alchopop tax as being in the best interests of the younger generation's health...not the money...oh, no. Another con job.

Posted by Peter, 14/05/2009 4:01:56 PM

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