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CPRS will impose on Australian industry: Ai Group

The “imposition” of the Government’s proposed Carbon Pollution Reduction Scheme (CPRS), which is also called the emissions trading scheme (ETS), will transform the Australian economy and will impose significant cost burdens for Australia industry, the Australian Industry Group (Ai Group) said.

Though the government has added some last-minute amendments to the bill, designed to help-out those industries that would be worst-hit by the scheme, the proposed Scheme would have far-reaching implications for key Australian industries, said Ai Group chief executive, Heather Ridout.

However, Ai Group acknowledges that the amendments, which include monetary concessions for the coal mining and liquefied natural gas industries, are designed to lessen the impact of the proposed Scheme.

“A meeting of the Australian Industry Group National Executive in Canberra today acknowledged the material improvements made to the Government’s CPRS,” Ridout said.

According to Ridout, the amendments negotiated between the Coalition and the Government would materially reduce the risks to business and their employees from the impacts of the proposed Scheme.

They represent a substantial advance for trade-exposed businesses and provide a greater emphasis on security of electricity supply in the transitional years, Ridout said.

According to Ridout, the CPRS will require close monitoring and the Government should be open to further amendments both in the lead up to, and following, the scheduled start date of 1 July 2011.

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