Carbon price repeal: CFI untouched
The draft carbon price repeal bills have been released and the good news for CFI fans is that the CFI legislation remains untouched – we will need to wait for the Emissions Reduction Fund white paper later in the year.
The only proposed change to the CFI Act is that the review scheduled for 2014 by the Climate Change Authority would be done by the Department of the Environment when requested by the Minister – so no guarantee of a review and the review would not be independent of the Minister’s Department.
The repeal bills would remove the carbon price, equivalent carbon price taxes, the Climate Change Authority and the proposed tax cuts from 2015-16.
The main message of the proposed repeal is that the carbon price will apply for 2013-14, but would not apply after that, even if it was not removed by 30 June 2014. A clear signal that the Government does not intend for any liabilities to extend beyond this financial year, but unclear how it would achieve this if the carbon price is not removed.
Submissions are due by 4 November 2013.
Waiting for Emissions Reduction Fund details!