| Sourced From Ft.com |
The Australian government failed to get its carbon trading scheme through the Senate on Thursday after the opposition Coalition and crossbench senators criticised the schemes economic and environmental analysis as being inadequate.
The upper house delayed a vote until August 13 when parliament returns from a six-week winter break, although senators warned that they would block the bill unless aspects of the scheme were overhauled.
The legislation is designed to introduce a government cap and trade scheme by July 2011 which guarantees a 5 per cent reduction in emissions. The scheme taxes the top 1,000 emitters but the government will also provide partial compensation to emitters for some activities.
According to Nick Xenophon, an independent senator from South Australia, the government scheme lacked any robust analysis or comparison with alternative emissions trading schemes (ETS).
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