“The Business Council of Australia said a carbon tax should be implemented gradually, starting at A$10 ($10.70) a metric ton to limit the financial impact on households and businesses.
The group, made up of chief executive officers of Australia’s top 100 companies including BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RIO), said that businesses should initially receive full compensation for the tax to ensure Australia’s policy to price greenhouse gas emissions doesn’t affect trade and investment. The council made its proposals in a submission to the government yesterday.
Australia, which burns coal to generate more than 80 percent of its electricity, plans to impose a price on greenhouse gas pollution starting July 2012 in preparation for a trading system that could begin as early as 2015, Prime Minister Julia Gillard said in February.”
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