Australia’s Tax on Carbon

Pushing through the rising controversy from skeptical individuals and ‘shocked’ corporations, the Australian government introduced a tax plan on carbon emissions generated by various companies.

Citing environmental concerns, Australia’s Prime Minister Julia Gillard officially announced the tax plan.

According to the Australian government, approximately 500 companies will need to pay 23 Australian dollars, the U.S. equivalent being 24.70 dollars, per ton of carbon emitted starting next year.

The plan includes a tax-increase by 2.5 percent per year.

Many of the targeted companies expressed discontent through their spokespersons, saying that the carbon tax plan will stifle the job rate of their respective industries by putting manufacturing jobs in foreign lands and negatively affect business in other ways.

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About the Author

Bruno Mitchell prefers to cover business along with the environment - I am sick and tired of looking at oil spills.

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