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:
“The Government is able to afford a suitable army and a suitable navy. It may maintain them without the slightest danger to the Republic or the cause of free institutions, and fear of additional taxation ought not to change a proper policy in this regard.”
—William Howard Taft (1857–1930)