Australia Advances Carbon Tax Measure

Australia’s lower house of parliament has approved the Australian government’s previously announced plans to introduce a carbon tax. The tax forms part of a climate change bill that is due to become law next month. The parliament’s vote means that Australia will be the only developed economy outside the European Union (EU) to put a price on carbon dioxide (CO2) emissions. More than 400 of Australia’s biggest emitters will pay A$23/m.t. ($22.35) for their CO2 emissions from July 2012. The tax will be replaced three years later by a...

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