Uncertainty hangs over Australia on eve of carbon tax introduction

Uncertainty hangs over Australia on eve of carbon tax introduction | Environment | guardian.co.uk
Australia's controversial carbon tax comes into effect on Sunday after years of heated debate that has divided public opinion and driven the Labor government to a 40-year low in opinion polls.  Under the new legislation, around 300 businesses will pay a fixed price of $AUD23/tonne for carbon emissions until 2015, when the market will set the price. Agriculture is exempt and trade-exposed industries like steel and aluminium will receive compensation of up to 94.5% on the price of permits.  The government's target is to reduce emissions by 5% by 2020 and 80% by 2050 on 2000 levels.