An analysis of the Federal Government’s carbon reduction scheme has found that billions of dollars will be pocketed by foreign-owned companies.
The Australian Conservation Foundation (ACF) says company returns have shown that almost $3 billion compensation would go to large carbon emitters in the first year of the scheme.
The ACF’s Tony Mohr says taxpayer funds will go to many of Australia’s richest companies.
“Some of the companies that would be receiving multi-millions of dollars in compensation, would include Rio Tinto, BHP Billiton, but also overseas companies such as Alcoa and Peabody Energy,” he said.
“So we’ve got to take a good hard look at these claims and really make a good decision on whether the money is better spent on these companies as compensation or perhaps on other things such as building better public transport.”
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Author: ABC News
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