Bloomberg News

Australia’s Upper House Passes Gillard Carbon Tax Legislation

November 07, 2011

Nov. 8 (Bloomberg) -- Australia’s upper house of parliament passed legislation today to make polluters pay for their carbon emissions from next year as Prime Minister Julia Gillard battles to win public support for the new tax.

The legislation will see about 500 companies charged A$23 ($23.80) a ton for their emissions starting in July 2012, before a so-called cap-and-trade system is introduced three years later. The bill to introduce the world’s second-biggest emissions trading system was passed with the backing of the Greens Party, which holds the balance of power in the Senate, after lawmakers in the lower house approved it on Oct. 12.

To contact the editor responsible for this story: Edward Johnson at ejohnson28@bloomberg.net


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