Government rejects Turnbull’s emissions trading scheme

The Federal Government has rejected Opposition leader Malcolm Turnbull’s latest move to negotiate a significantly altered emissions trading scheme, and has stepped up its threat of an early election on climate change.After Mr Turnbull released a remodelled scheme which he said would be smarter, greener, and cheaper, the Climate Change Minister Penny Wong said the Liberals ”can do this the easy way or the hard way”. Carbon scheme jeopardises Port Kembla steelworks: BlueScope ”One way or another, we are going to get this through,” she said of Labor’s scheme.With the Senate to vote on Labor’s scheme on Thursday, Mr Turnbull and the independent senator Nick Xenophon urged a further delay.Modelling they commissioned in June proposes a radical revamp, the main change being less punitive treatment of electricity generators.Mr Turnbull, whose party is divided on climate change, reaffirmed the Coalition would vote to defeat Labor’s scheme.He stressed the new model, by Frontier Economics, was not policy, but would help shape amendments the Coalition would propose when Labor reintroduced its bill.If the bill were defeated again after a gap of three months, Labor would have a trigger for a double-dissolution election.The proposals will be run past today’s Coalition party-room meeting at which MPs and senators are expected to vent their feelings over policy differences and Mr Turnbull’s leadership.Under Labor’s scheme, known as cap and trade, electricity producers would pay for each tonne of carbon they emit by buying permits. This would cause a sharp rise in the price of electricity for which low and middle-income households would be compensated.Under Mr Turnbull’s proposal, electricity would be treated under a now-abandoned Canadian model known as baseline.Power stations would be free to pollute to a certain limit and be charged after exceeding this.The rise in power bills would be far less. Also, small business, which receives scant compensation under Labor’s scheme, would be spared the impact of high power prices.The proposal is a hybrid because it combines a baseline approach for power stations with a cap-and-trade approach for other heavy polluters.Senator Wong said the Government would consider reasonable amendments to its scheme but not this.”It’s not a hybrid, it’s a mongrel,” she said.The Frontier model also claims the amended scheme could cut greenhouse gases by an unconditional 10 per cent by 2020, twice that of Labor’s scheme.But this would require buying more carbon permits from overseas.Government officials attacked the proposal as magic pudding economics. If there was a scheme that cost less, cut more greenhouse gases and caused less disruption, the Government, and those in Europe, Asia and the United States, would have adopted it, they said.The report’s release failed to calm Coalition dissenters.A Liberal who opposes doing a deal said all the new proposals did was keep alive the prospect of ”a collapse in November”.”Let’s have an election on it,” he said. smh南京夜网.au
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