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Australia plans carbon tax from 2012: report

Fri, 02/11/2011 - 7:27pm
Reuters

SYDNEY (Reuters) - Australia's Labor-led government plans to introduce a fixed carbon price from July 1, 2012 with a compensation scheme for some industries, the Australian newspaper reported on Saturday, a proposal its key coalition ally had earlier rejected.

Prime Minister Julia Gillard will next week propose a fixed price with a compensation system for energy-intensive industries such as electricity generation and trade-exposed industries. A transition to an emissions trading scheme will follow around 2015-2016, the paper said, citing sources close to the process.

The proposal, however, could face resistance from the influential Greens party, whose votes Gillard relies on to secure a majority. The party earlier rejected similar proposals because it gave too much compensation to the coal and power industries and the target was too low.

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