The Australia has officially joined the nations that have set a price on carbon dioxide emissions. The new carbon tax will be applied starting today on a US$1,4 trillion economy thanks to a disputed reform that could cost the job Prime Minister Julia Gillard.
The news is considered positive by the world's major ecological organizations, given that Canberra is one of the biggest polluters in the world per capita, mainly due to the extensive use of coal to produce energy. Australia's biggest polluters will initially pay 23 Australian dollars (equivalent to 23 US dollars) per tonne of CO2 emitted. This price is particularly high and double compared to what is paid in the European Union where at the moment the cost of pollution is 8,15 euros per ton (10 US dollars). The scheme allows emissions trading starting in 2015, when polluters and investors will be able to buy carbon offsets or trade with equivalent schemes in Europe, New Zealand and, possibly, South Korea and China schemes in the pipeline. However, the new tax was born weakened. The Conservative opposition has already declared that it will get rid of the carbon tax if it comes to power with general elections scheduled for the end of next year.
The new taxation is accompanied by reductions for businesses and citizens in order to minimize the impact on costs. The consumer price index is expected to rise by 0,7% in the 2012-2013 fiscal year.
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