CPRS Changes Posted
The Federal Government has posted the details of the changes to the planned Carbon Pollution Reduction Scheme (CPRS) that were announced yesterday.
The three-page ‘fact sheet’ entitled Strengthening Australia’s 2020 carbon pollution target outlines the increase in the upper-bound of the target range to 25%, subject to a global deal to target 450ppm of atmospheric CO2 .
The Deferral of Carbon Pollution Reduction Scheme fact sheet details the scheme deferral and initial $10 carbon price for the first year. Assistance under ESAS and EITE has also been deferred. Obligations under NGERS will remain.
The Support for Industry fact sheet details the ‘Global Recession Buffer’ that adds to the EITE rate, assistance under the first year of the scheme and additional provisions for the scheme reviews.
