Survey reveals carbon trading scheme delaying investment

If you're new here, you may want to subscribe to our or .

| Sourced From |

The Hunter Business Chamber says more than $1 billion in investment has been put on hold in the region because of the uncertainty over the emissions trading scheme.

A Hunter Valley research foundation survey has found the industries that will be most affected by emissions trading include aluminium, steel, electricity, beef cattle and black coal.

The research also found that none of the companies surveyed believe they were adequately prepared for the scheme’s introduction.

The chamber’s Peter Shinnick says the Federal Government needs to take its research into account.

“One of the major consequences of the introduction of the emissions trading scheme - and it’s been a fairly drawn out affair - is that it is creating a lot of uncertainty in business,” he said.

“In that environment, business will defer investment decisions, and at this point in time there are several large Hunter companies that have deferred over $1 billion in investment in plant and equipment.

“That’s not good for the economy and needs to be clearly heard by our Federal Government.”