Australian Prime Minister Kevin Rudd has axed the carbon tax and announced a series of budget cuts to fund a move to an Emissions Trading Scheme by 2014/15.
Here’s what you need to know:
- Rudd unveiled $3.9 billion worth of budget cuts to fund the transition, which will cost $3.8 billion
- These include removing a tax concession on the personal use of salary-sacrificed or employer-provided cars
- The changes will not affect people who use their own cars for work-related reasons
- Other changed to fund the sped-up ETS include trimming around 800 Canberra-based public service jobs, better procurement procedures, and changes to government funding for carbon-and-environment related programs
- Treasurer Chris Bowen said the carbon tax changes were “more than fully funded by the government”
Read more here.
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