Living costs up under carbon trading

A study for the Climate Institute predicts that Australia's cost of living will rise dramatically under the carbon trading scheme.

Worryingly for the Government, the poll also revealed 71 per cent of Queenslanders were against an increase in petrol taxes to reduce greenhouse gas emissions.

Carbon compensation for families 'more than $1.6bn'
http://www.news.com.au/story/0,23599,23906551-421,00.html

By Steve Lewis * Carbon compo for families $1.6bn a year * $500m a year to protect poor, aged * In pictures: Victims of the crash

THE Rudd Government faces a massive payout of more than $1.6 billion a year to families, to offset rising energy and fuel prices under a new emissions trading system (ETS).

Annual payments of about $500 million alone will be needed to protect the poor and the aged from a projected spike in electricity and gas prices.

A landmark CSIRO study, to be released today, reveals the high costs of going green and comes just weeks before the Government releases a crucial discussion paper on carbon trading.

The study also finds an emissions trading system to be introduced from 2010 will raise more than $8 billion in additional revenue for Canberra.

This will give the Government plenty of financial scope to deliver tax cuts and other payments to soften the blow of rising weekly bills.

The CSIRO report, commissioned for the Climate Institute, found average families will face price rises of up to $10 a week for electricity, gas and petrol.

If the Government wants to compensate families on average incomes, it will have to pay out up to $336 million by 2015, rising to $557 million by 2020. But, with struggling families battling to contain rising petrol prices, the Government will be under pressure to extend payments to most families.

This could see the Government paying out $1.7 billion in compensation by 2015, rising to $1.9 billion by 2025.

The CSIRO report argues that "deep cuts in greenhouse emissions" are possible in Australia without reducing living standards.

"Well-designed policy measures can protect low and middle-income households from potential short-run declines in energy affordability," it states.

The carbon trading scheme will start within two years as the centrepiece of Kevin Rudd's commitment to curb damaging greenhouse gases. Under the "cap and trade" scheme, heavy polluters will have to buy permits - increasing the incentive on business to embrace low-emission technologies. Higher energy costs are inevitable, with low-income families particularly vulnerable.

The CSIRO report says a yearly payment of $185 by 2015 "would fully insulate low-income households from the impact of very high carbon prices on household energy consumption".

"For low income families, concerns about the increased costs of energy and other goods and services are real," said Climate Institute policy director Erwin Jackson, adding they could be overcome with "a fair and effective distribution of the multi-billion dollar bonus to government coffers provided by the ETS".

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[ChasingDays]

i know lets carbon tax the politians always talking sh*t takeing there tax payer funded car's where ever thay need to go discountted food fule power Flight's phone's ...geee must be hard to have a man slave hay julie......if any1 is an austrailan we all should boycot the votes till the politians make good 4 a dam change and hold them to contracts with the AUS pople so when occasions like this happen ...rember ...no carbon tax under my goverment .. and we voted 4 her Oo

[chotaboy66]

Do these clowns know the ipcc are a bunch of criminals that use cooked up computer generated theroy that is completly WRONG.

For starters CO2 is not a pollutant .CO2 is the building block of life ALL LIFE.man made CO2 is only less than 1% of green house gas,Green house gas is 99.72% natural , Co2 DOSE NOT drive world temps our SUN dose.Our bloody government are a pack of liers that want to tax LIFE.Who the hell do they think they are god?? THIS is an ATTACK ON OUR FREEDOM not a pollution fix.

[WellSightedGentleman]

2012 is a peak in the 40 yr solar cycle apparently, these peaks supposivly cause upheval and resolve, generally speaking. The atmospheric manipulations will prevent that solar radiation filling the atmosphere in abundance, which would be natural.

but here we again see the circumvention of nature being bent to the will of a technologically advanced few. I thought monsanto with their hydroponic future might already be planning for the catastrophe ahead, but thats conjecture, time will reveal all

[natureismytemple]

Very true, majority of scientists on board w/ the Cap & Trade are U.N. appointed which has just as much political influence as any other level. S

Sun Cycles --- Measure the Earth's climate change on a more macro scale. Other than the last 40 years.

[WellSightedGentleman]

geo-engineering, weather manipulation is a staple for the western hemisphere, the skies are being filled with particulate pollution year after year and you people are blame everything but the cause.

climate change is a scam, its an outcome of weather manipulation that these politicians refuse to comment upon but nevertheless condone, at our demise.

for 10 years theyve been working on synthetically manipulating the enviroment and theyve even had to change stories midflight