CPRS reprieve should not defer investment
08 Dec 2009
Source: Australian Chamber of Commerce and Industry, 7 December 2009
The rejection by the Senate of the Carbon Pollution Seduction Scheme legislation provides an opportunity to iron out remaining flaws in scheme design and timing, but should not be used by industry to take the foot off the pedal in investing in new technology to improve energy efficiency.
"The absence of price compensation for small business, and locking in an Australian ETS before nations we compete with imposed similar costs on their economy, were flaws that justified deferral of the legislation.
"Attention should now turn to ironing out these flaws, and the pursuit of an economically responsible global agreement.
"This is not a get out of jail free card for industry. It is an opportunity to get our scheme design and timing right, whilst maintaining research and investment in new technology, and noting that there are no cost-free policy options.
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