Whatever course we adopt, it will cost.
I make the following proposals for laws and expenditure to meet the menace of global warming brought on by the burning of coal and oil:
1. Postpone the introduction of carbon trading until after the next Federal election. We need more time for the formation of a public consensus and sound community support for meaningful action, for something more than mere soft support for laws that will keep the government in office. The political imperative may well lie elsewhere.
2. Side by side with a licensing and carbon trading regime, we need taxes of the nature of ground rent of mine sites and of an excise on coal produced for use, or for domestic and export markets.
3. The government proposes to reduce the excise now levied on some petroleum based fuel consumption. This is not enough. We should impose an equal excise on all fuel used in all categories of consumption, and not least on those now exempt as well as add in a tax on coal. All excise rates should be set upon a basis of thermal or carbon equivalents.