Speech by Greig Gailey to the Committee for Economic Development of Australia on 3 July 2008 titled ‘Australia’s Emissions Trading Scheme: An Opportunity’.
The introduction of a national emissions trading scheme is the single most important policy decision the Rudd Government will make before the next election.
The introduction of an Australian emissions trading scheme and a price on carbon will affect business, industry and households in ways that many of us are yet to fully understand.
The right design will allow Australia to contribute to reducing global emissions in a manner that does not lead to excessive costs to our domestic economy.
Getting the policy right requires balancing often competing but interdependent demands. This includes fostering economic growth while cutting emissions, providing assistance to households and industries adversely affected, and aligning Australia’s strategies with global action.