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Australia unveils biggest carbon-reduction scheme

Sat, 07/09/2011 - 9:25pm
Reuters

CANBERRA (Reuters) - Australia unveiled plans on Sunday to slap a carbon tax of A$23 a tonne on its 500 worst polluters from 2012, sweetened by tax cuts for voters fearing higher energy bills, and paved the way for the largest emissions-trading scheme outside Europe.

Prime Minister Julia Gillard said steel and aluminum manufacturers and other polluters would pay a A$23 ($24.70) price rising by 2.5 percent a year, before the minority government moved to a controversial market-based emissions scheme in mid-2015.

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