Carbon deadline likely to be missed: the government will struggle to gain business good will

WHILE a countdown to a carbon tax in 2012 has started, many factors could cause the launch to be deferred.

Thanks to the landmark agreement between the government and the Greens, we now know the government proposes a carbon tax to start on July 1, 2012, with a plan to convert to an emissions trading scheme in three to five years. But details on key elements are otherwise scarce.

Crucially, the tax rate has not been set. If the press reports are correct, Australia faces an initial tax rate $20 to $30 per tonne of CO2 equivalent rising over time.

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