Carbon trading comes to Wagga

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WAGGA’S businesses and residents yesterday heard for the first time how a carbon pollution reduction scheme will affect them.

The Federal Government plans to introduce the scheme later this year and presented a detailed public information address across regional Australia via a Sky Channel broadcast.

The broadcast was introduced by Minister for Climate Change Penny Wong before attendees heard how the scheme would be implemented and how it would impact on them.

Manuel Donebus, director of property development firm Damasa Pty Ltd said carbon reduction would have a major impact on his business.

“I think it was clear that this will have a significant negative impact as there is no way for us to pass on costs,” Mr Donebus said.

“The bigger polluters will be able to pass on the costs, leaving smaller polluters such as small business and homeowners to carry the burden.”

Businesses that emit more than 25,000 tonnes of carbon a year will have to purchase permits, while to offset carbon costs low-income and middle-income earners will receive tax breaks.

The permits are expected to pump about $12 billion into the economy.

Ms Wong said in her introduction that the implementation would be a positive step forward.

“The carbon trading emissions scheme is one of the most significant reforms to the Australian economy ever, that will start reducing emissions from next year,” she said.