News24

Australia to tax worst polluters

2011-07-10 11:52

Sydney — Australia says it will force its 500 worst polluters to pay 23 Australian dollars ($25) for every metric ton of carbon dioxide they emit in a bid to reduce the nation's greenhouse gas emissions.

The government released details of its deeply unpopular carbon tax plan on Sunday. Some of the money from the tax will be used to help compensate households that will be hit with higher power bills.

Prime Minister Julia Gillard sought to reassure wary Australians that the tax will only cause a minority of households to pay more. Gillard says the tax is critical to helping the country lower its massive carbon dioxide emissions.

Australia is one of the world's worst greenhouse gas polluters, due to its heavy reliance on coal for electricity.

Comments
  • SaintBruce - 2011-07-10 17:22

    I wonder at the point of such a tax ? I understand the need to reduce carbon emissions so it is a negative incentive to do so. Those businesses that have to invest heavily in the reduction technology will end up with a net output cost increase. To serve the shareholder interest (profit) and the Government's net aim, emission reduction as well as cost savings for the consumer, a tight balancing act is called for. I wonder if business will get it right?

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