The Rudd Government has offered Federal Opposition leader Malcolm Turnbull a new climate change deal, featuring increased assistance for the coal and electricity sectors and new strategies to recognise the efforts of households to reduce their carbon footprint.
The deal, which has reportedly been approved by the Opposition’s shadow cabinet, will now need to receive the support of the Coalition party room, which has been deeply divided on the introduction of an emissions trading scheme.
Pundits expect a bitter battle in the Coalition party room over the deal and there have been suggestions that Turnbull’s leadership could be challenged during the discussions.
Negotiations between the Government and the Opposition have taken place for the past few weeks, with the Coalition pushing for the exclusion of agriculture for the screen and more compensation for the coalminers and electricity producers that will be hit hardest by the introduction of an emissions trading scheme.
Prime Minister Kevin Rudd said the new deal, which will cost taxpayers $7 billion over the period to 2019, is only on the table for this week and urged Coalition politicians to support the deal in the national interest.
“Australia will be hit hardest and fastest by climate change. The only responsible course of action today is to vote for action,” Rudd told reporters.
“Failing to act today is to roll the dice on our children’s future.”
Other measures that have been added to the revised climate change deal include some further assistance to cushion the blow of higher electricity prices.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
