Australians to pay for carbon trading
The Governor of the central bank of Australia, the Reserve Bank, has warned that Australians should expect to pay more for energy once a carbon emissions trading scheme has been implemented. Article here.
“AUSTRALIANS must accept that emissions trading is designed to make them pay more and lower their standard of living, at least where energy use is concerned, the Reserve Bank governor warns.
Glenn Stevens said yesterday any attempt by workers to demand higher wages as compensation could increase inflation.
There would also be little point in raising the price of energy if it did not result in lower consumption of it, Mr Stevens said.
Responding to his comments, the Rudd Government’s chief climate change adviser, Ross Garnaut, told the Herald the Government could consider a GST-style package of tax cuts to head off calls for higher wages. These tax cuts could be funded by the sale of emission permits.”