This tax is NOT modest by any means. Ours is set at $23 and the EU at $14.65.
Excerpt from the article below:
"EU December carbon permits rose 26c, or 2.5 per cent, to E10.72 ($14.65) on Monday, their highest price this month, but 25 per cent below their peak this year as the carbon market collapsed in line with other markets over concerns of a European financial crisis.
ACCI economics director Greg Evans backed the comments. "It's beyond argument Australia will be burdened with the world's biggest and most invasive carbon tax for at least the fixed-price period. Consequently the trade-exposed sector will be under even more intense competitive pressure at a time when they are facing uncertain and deteriorating trading conditions.""
