Australia’s Carbon Tax: A Sheep in Wolf’s Clothing?

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Title Australia’s Carbon Tax: A Sheep in Wolf’s Clothing?
Author Lo, Alex
Journal Name The Economic and Labour Relations Review
Year Published 2012
Place of publication Australia
Publisher University of New South Wales
Abstract The Australian Government has produced a CO2-equivalent tax proposal with a difference: it is a short prelude to an emission trading scheme that will allow the increasing rate of emissions to continue, while being a net cost to the Treasury. That cost extends to allowing major emitters to make guaranteed windfall profits from pollution permits. The emission trading scheme suffers numerous problems, but the issues raised in this article show that taxes can also be watered down and made ineffectual through concessions. Taxpayers will get no assets from the billions of dollars to be spent buying-off the coal generators or other polluters. The scheme seeks to stimulate private investors to create an additional 12 per cent in renewable electricity generation by 2020. A really serious emissions reducing alternative would need to create a nationalised electricity sector with 100 per cent renewable energy within a decade. We explore the limitations of Australia’s carbon tax plan which has now passed into law.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.asb.unsw.edu.au/research/publications/economiclabourrelationsreview/pages/default.aspx
Copyright Statement Copyright 2012 UNSW. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Volume 23
Issue Number 1
Page from 67
Page to 86
ISSN 1035-3046
Date Accessioned 2012-05-30; 2012-09-10T23:24:12Z
Date Available 2012-09-10T23:24:12Z
Research Centre Urban Research Program
Faculty Faculty of Science, Environment, Engineering and Technology
Subject Environment and Resource Economics
URI http://hdl.handle.net/10072/46757
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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