The Victorian Employers' Chamber of Commerce and Industry (VECCI) has welcomed the release of the Government's Green Paper on the Carbon Pollution Reductions Scheme (CPRS).
VECCI Chief Executive Officer, Wayne Kayler-Thomson, says the Paper provides much anticipated details around a number of important emissions trading design features.
"Many of the components of the plan are consistent with VECCI's preferred position on emissions trading, including its proposed broad coverage, assistance to trade exposed, energy intensive industries, transitional support for electricity generators, and compensation for low income households and individuals.
"While further detail on the nature, quantum and duration of assistance for industry and households needs to be worked through, the Green Paper's direction is a good starting point.
"The proposed establishment of a new Climate Change Action Fund recognises the importance of boosting support for low emissions technologies and helping small and medium sized businesses play their part in the adjustment process.
"However, the full details of the cost and impact of the CPRS will only be known once Treasury modelling of the economy wide effects of an emissions trading scheme is released in October", says Mr Kayler-Thomson.
This information will be critical in assessing more accurately whether the options contained in the Green Paper do represent a sensible and well considered response to reducing greenhouse gas emissions at least cost to the economy and industry. |
