Canberra, July 10 (ANI): The Australian government has unveiled its plans to impose tax on carbon emissions from the nation's worst polluters.
Prime Minister Julia Gillard said carbon dioxide emissions would be taxed at 23 Australian dollars per tonne from 2012, the BBC reports.
The country's biggest economic reform in decades will cover some 500 companies. In 2015, a market-based trading scheme will be introduced, the report said.
Under the new scheme set to begin on 1 July 2012, the government plans to include any company that produces at least 25,000 tonnes of carbon dioxide per year.
However, agriculture, forestry and land will be excluded from the levy. Motorists are also to be exempt, except for heavy lorries.
Steelmakers, coal mines and electricity generators will receive compensation to ensure they stay in business. Other tax cuts are planned for consumers.
"As a nation, we need to put a price on carbon and create a clean energy future," Gillard said.
"Australians want to do the right thing by the environment," she added.
The latest move has, however, been criticized by the opposition. Also, critics argue the levy would damage economic competitiveness. (ANI)
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