Posts Tagged ‘carbon footprint’
This is actually one of the first wide-ranging carbon pricing schemes being implemented, and will have some major economic ramifications for Australia. At a starting price of $23 per tonne of carbon, many businesses are being asked to get ready to pay many billions of dollars in tax.
The clever thing about the implementation is the way this tax is being redistributed. More than 50% of the tax takings actually goes back to the public to compensate for the inevitable price increases that will come with a carbon price. The rest goes to subsidize companies that will be worst hit by the carbon price – so-called trade exposed industries involved in things like mining and smelting.