Gillard’s carbon scheme faces collapse

Andrew Bolt,Herald Sun (Australia)
"The Gillard Government has hit Australia with a carbon tax of $23 a tonne. It predicts that when we switch to international carbon trading in 2015/16, the world price for carbon credits will be $29 a tonne. That now seems highly unlikely, given the collapse of the two main carbon trading markets: ........ This confronts the Gillard Government with a financial and political disaster. It is giving many Australians compensation to match a carbon price of $23 - and rising as the carbon tax increases. That compensation is paid for by the carbon tax. But if the tax does not match the compensation, a great financial crater opens under the Government’s feet - unless it slashes the handouts: ...."