Summaries - Australian Financial Review
Wednesday 11/3/2009 Page: 9
Heavy industries have called on the Federal Government to delay its emissions trading scheme due to the rapidly weakening economy. Yesterday, draft legislation into the ETS was released and although no further details anent compensation for coal-fired power stations and emissions-intensive trade-exposed (EITE) industries were given, a trading date of mid-2010 was divulged. However, the Australian Industry Group's Heather Ridout described the timetable as 'too onerous.'
Elsewhere, the Minerals Council of Australia's Mitch Hooke and the Australian Coal Association's Ralph Hillman have both criticised the scheme, while support was given from Origin Energy's Carl McCamish. Environment groups such as WWF-Australia have condemned the draft legislation. According to Blake Dawson Waldron's Tony Hill, the draft legislation indicated that legal disputes were expected over whether the ETS would be construed as a tax.
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