Rudd's $3.8bn climate tax shuffle

PM Rudd has announced a number of cuts to carbon pricing programs and compensation to cover for the loss of revenue from dumping the carbon tax. Worse, he is conforming to Abbott’s rhetoric that carbon pricing equals cost of living pressures.

The government has just announced a range of climate program cuts, reductions in carbon pricing compensation, and changes to fringe benefits tax to cover a $3.8 billion shortfall in revenue from dropping the fixed price on carbon.

The government announced it won’t seek to adjust funding to ARENA and the Clean Energy Finance Corporation, stating in a press conference that renewable energy programs will remain untouched.

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