| Treasury modelling released for Carbon Pollution Reduction Scheme |
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On 30 October 2008, the Government released Treasury’s modelling of the economic impact of the implementation of policies to reduce greenhouse gases, including the introduction of the proposed Carbon Pollution Reduction Scheme. The report, Australia’s Low Pollution Future: The Economics of Climate Change Mitigation examines four alternative likely scenarios facing Australia in the mid to long term future which are based on the concentration of greenhouse gases in the atmosphere. According to the Government, the modelling shows three key findings: 1. that the Australian economy is able to continue growth whilst also reducing greenhouse gas emissions; 2. that the sooner action is taken to implement a scheme, the cheaper the cost of action; and 3. that Australian industries will become more competitive. The Treasury modelling is set to provide the details required by the Government to finalise the Carbon Pollution Reduction Scheme in time for the release of draft legislation in December 2008. Please click here to obtain a copy of the report. |
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