Prime Minister Tony Abbott has finally won backing to end the tax on carbon emissions Down Under, signalling the pointlessness of such schemes
(telegraph) - In the history of taxes, Australia's levy on carbon emissions must go down as one of the most unsuccessful in history.
Tony Abbott, Australia's centre-right Prime Minister, finally made good on his pre-election pledge after his government repealed the measure introduced by his Labor predecessor Julia Gillard.
Poorly thought out and highly unpopular, the tax is almost unique in that it generated virtually no revenue for the Australian Treasury due to its negative impact on productivity; contributed to the rising costs that have taken the gloss off the country's resources boom; and essentially helped to bring down Ms Gillard's former Government.
The repeal of the tax, which will be replaced by a scheme that will offer companies grants to help Australia meet its target of cutting emissions by 5pc by 2020, is a bitter blow for campaigners who have claimed that harsh green taxes are required to head off climate change.
Tony Abbott, Australia's centre-right Prime Minister, finally made good on his pre-election pledge after his government repealed the measure introduced by his Labor predecessor Julia Gillard.
Poorly thought out and highly unpopular, the tax is almost unique in that it generated virtually no revenue for the Australian Treasury due to its negative impact on productivity; contributed to the rising costs that have taken the gloss off the country's resources boom; and essentially helped to bring down Ms Gillard's former Government.
The repeal of the tax, which will be replaced by a scheme that will offer companies grants to help Australia meet its target of cutting emissions by 5pc by 2020, is a bitter blow for campaigners who have claimed that harsh green taxes are required to head off climate change.
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