Tuesday, March 27, 2012

The Australian: - Ted Baillieu to dump carbon target

THE Baillieu government will today dump state Labor's 20 per cent greenhouse emissions reduction target by 2020, in the latest pro-jobs policy shift designed to shore up support among an ambivalent business community.

An independent review of Victoria's Climate Change Act will warn against keeping a state-backed target when the national benchmark is as low as 5 per cent below 2000 levels by 2020.

The review also will cite modelling stating that even with an emissions trading scheme, meeting the 20 per cent target would require the Baillieu government to spend an extra $2.2 billion to buy international offsets.

The decision to dump the 20 per cent reduction target by 2020 -- based on 2000 levels -- comes despite the Coalition refusing to oppose the target when it was passed during Labor's last term in power.

The target is included in state law but will be repealed by the government, which has control of both houses of parliament.

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