Kenneth Davidson reckons the panic being promoted over problems in the Victorian power industry is just a beat up. I suspect he is right.
His alternative to an ETS also has a pleasing simplicity about it:
The flawed CPRS should be replaced with a broad-based carbon tax. If it was set initially at $10 a tonne it would be hardly noticed, it would raise $5 billion a year and all the money could be spent on green infrastructure instead of the financial bubble if the CPRS goes ahead.
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