Published on ShanghaiDaily.com (http://www.shanghaidaily.com/)
http://www.shanghaidaily.com/sp/article/2008/200810/20081031/article_378918.htm
Australia now set to introduce carbon tax plan
Created: 2008-10-31 7:36:18
AUSTRALIA will forge ahead with a plan to tax carbon pollution from 2010 despite the current economic downturn, Treasurer Wayne Swan said yesterday as he released a reassuring assessment of the scheme.
In December, the government will release the final details of the plan, aimed at slashing Australia's emissions of carbon dioxide and other greenhouse gases blamed for global warming by 60 percent by the year 2050.
The report by the Treasury Department yesterday said that the target could be achieved with little impact on Australia's economic growth.
It predicted growth would average 1.1 percent a year to 2050 if Australia taxed carbon pollution and transformed itself into a low-emission economy, while growth was likely to average 1.2 percent if it did not.
Swan stood by the report's forecasts, even though most of the calculations were made before the current economic crisis, which is slowing the global economy.
In December, the government will release the final details of the plan, aimed at slashing Australia's emissions of carbon dioxide and other greenhouse gases blamed for global warming by 60 percent by the year 2050.
The report by the Treasury Department yesterday said that the target could be achieved with little impact on Australia's economic growth.
It predicted growth would average 1.1 percent a year to 2050 if Australia taxed carbon pollution and transformed itself into a low-emission economy, while growth was likely to average 1.2 percent if it did not.
Swan stood by the report's forecasts, even though most of the calculations were made before the current economic crisis, which is slowing the global economy.
Agencies
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