Rudd confirms ETS delay Posted 9 minutes ago Updated 8 minutes ago
Related Story: Rudd to delay ETS Prime Minister Kevin Rudd has announced that the Government's emissions trading scheme is being delayed until 2011.
The Government has also increased the range of its emissions reduction target to from 5 to 25 per cent of 2000 levels by 2020, depending on international action.
The price of carbon will be set at $10 per tonne for the first year of the scheme.
The scheme was originally due to start next year but its introduction has now been put off for 12 months.
Mr Rudd says the changes are necessary because of the worsening global economic conditions.
The Opposition had been calling for the delay of the scheme for at least another year, saying it would hurt industry and cost jobs.
The Greens have also slammed the scheme, criticising the targets for being too low.
But it remains to be seen whether the changes will be enough to get the scheme through the Senate, with other crossbench senators also having expressed reservations.
