Saturday, December 20, 2008

Professor Ross Garnaut gets candid on Rudd's ETS Plans

Ross Garnaut has launched a scathing attack on the Government's emissions trading policy, condemning its failure to embrace a more ambitious goal and the multibillion-dollar compensation for electricity generators.

In his first intervention after Monday's unveiling of the Government's blueprint, Professor Garnaut — the Government's climate guru — said last night that the plan would get "5½ out of 10 at a good university".

Writing in today's Age, he says it makes large transfers of money "from the general community to particular interests", and warns of its fiscal and environmental risks.

There is "no public policy justification for $3.9 billion in unconditional payments to generators" for hypothetical future loss of asset value.

"Never in the history of Australian public finance has so much been given without public policy purpose, by so many, to so few,"
he writes. "The best that can be said is that these are once-and-for-all payments — unless the spectacular success of investment in lobbying inspires repetition and emulation." >> more
Are these words meant to excite laughter or amusement? What a circus!


MK said...

A circus indeed, just that it's not really entertaining, unless you're one of the parasite base, then it's good times i guess.

AI said...

Thanks MK and it was supposed to read "incite" not "excite" ...silly me