Well it’s hardly a surprise but the Government’s green paper tells us an emissions trading scheme will be costly.
It will be inflationary and could push the price of electricity up by as much as 16 per cent.
But to ease the pain, the Government has promised compensation for pensioners, motorists and low income households; and assistance for high emitting businesses.
The Greens aren’t happy, and neither is the Opposition. But the broad outlines of the Governments design to reduce carbon pollution has been welcomed by the business community.