The Albanese government is finally on the verge of operating a price-based mechanism for reducing carbon emissions after former chief scientistof penalties and rewards for abatement.
The safeguard mechanism sets big-emitting industries – of which Australia has many – an emissions baseline above which individual firms or plants are required to buy ACCUs, including from firms or plants that generate the credits by emitting below their baselines. The credits can come from planting or saving trees, revitalising land, or capturing industrial carbon. But itsthat up to 80 per cent of credits effectively are a sham – a quick way out for emitters and a rort for landowners that has done little to actually reduce emissions.
While commendably grasping the political hazard of carbon pricing, Labor needs to adopt more market-based solutions, both in the energy transition and across the economy., which involved a comparable transformation of an over-regulated and protected economy. But Labor’s policy agenda leans toward reregulation, such as in energy and industrial relations, and away from incentive-based supply-side reform, such as to the tax system.
TAX!!!!!!!!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rental market at ‘fever pitch’ as 6600 homes exit affordability schemeMore than 6600 homes across Australia will cease to be part of a rental affordability scheme despite vacancy rates in all states and territories remaining at near record lows
Source: smh - 🏆 6. / 80 Read more »
Rental market at ‘fever pitch’ as 6600 homes exit affordability schemeHousing organisations are worried more Australians will be thrown into homelessness without more action from the government.
Source: brisbanetimes - 🏆 13. / 67 Read more »
Thousands of affordable rentals will ‘be wiped out from the market this year’Everybody’s Home spokeswoman Maiy Azize says 6,600 affordable rentals will “be wiped from the market this year,” following the axing of the affordability scheme in 2014. “We’re calling on the federal government to start building 25,000 social homes every year for the next 20 years, and that’s all we need to do just to plug the shortfall,” she told Sky News Australia. “At the moment they’re pledging to build 20,000 homes over the next five years, that’s a real drop in the ocean compared to what the need is.” 2014 LIBERAL PARTY was in power. Go figure. Obviously Albo will fix this, after all he did promise all Aussie's will be better of under a Labor government. Government should incentivise landlords to build rental properties. It’s so inefficient when government does it. Money goes 1/3 of the way which means less housing.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Ukrainian officials decry Russian 'terrorists' after missile attack on marketA 60-year-old woman has been killed and several other people have been wounded in a Russian missile strike on a market in eastern Ukraine, according to officials. 'Ukrainian officials say...' 🤡 Any chance of getting actual frontline reporters to these places to confirm these usually-turn-out-to-be-BS 'Ukrainian officials say' stories? Oh, that's right: the 'beacon of democracy' that is the Kiev regime bans them. This is precisely what Ukraine has been doing to the donbas for almost 9 years ABC news publishes propaganda
Source: abcnews - 🏆 5. / 83 Read more »
Australia urgently needs a trusted carbon marketGreater transparency and more robust assessments means scaling up the carbon market should start without delay.
Source: FinancialReview - 🏆 2. / 90 Read more »