Malcolm Turnbull speaking today in Parliament on anthropomorphic global warming and an emissions trading scheme, in direct opposition to his leader's new policy position:
The White Paper estimates the CPRS will result in a one off increase in the CPI by 1.1% – compared to the 2.8% one-off increase in the CPI caused by the introduction of the GST. Most households are compensated for this increase in costs either in whole or in part.
I should note that the largest component of increases in electricity prices in NSW over the next five years is, in fact, additional network charges to recognise the increased investment in the security and reliability of electricity infrastructure. Those increases, unlike the CPRS element, are not the subject of any compensation.
But given we have an apparent bi-partisan agreement that emissions should be reduced by 5% of 2000 levels, is an Emissions Trading Scheme, at a general level, the best policy to achieve the desired reduction in emissions? Read more »