Carbon Taxation
Another method of mitigation of global warming considered by the Australian Government is a carbon tax. This method would involve imposing an additional tax on the use of fossil fuels to generate energy. Compared to the CPRS and CTS/ETS, a carbon tax would set the cost for all carbon emissions, while the cap itself would be left unattended, allowing free market movements.
This tax would primarily be aimed to reduce the use of fossil fuels for energy generation, and also look to increase efficient energy use and increase demand for alternative energies.
A carbon tax was introduced by the government of Julia Gillard on 1 July 2012. It requires businesses emitting over 25,000 tonnes of carbon dioxide equivalent emissions annually to purchase emissions permits, which initially cost A$23 for one tonne of CO2 equivalent.
Read more about this topic: Mitigation Of Global Warming In Australia
Famous quotes containing the word taxation:
“Every diminution of the public burdens arising from taxation gives to individual enterprise increased power and furnishes to all the members of our happy confederacy new motives for patriotic affection and support.”
—Andrew Jackson (1767–1845)