Parallel PM Abbott rules out carbon price

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From The Australian:

The Coalition has vowed not to ­introduce an emissions intensity scheme for the electricity sector, as Malcolm Turnbull seeks to quell a backbench revolt over climate change policy and target Labor over its plans for a new price on carbon.

In a reminder of the policy fight that cost Mr Turnbull his job as Liberal leader in 2009, angry MPs yesterday warned of economic “suicide” if the government shifted ground on carbon pricing.

Following a cabinet meeting in Sydney, and in response to questions from The Australian, Energy Minister Josh Frydenberg issued a statement ruling out any policy that would increase electricity prices, including an emissions intensity scheme. “The government will not be adopting new policies which increase the already high cost of electricity for Australian families,” he told The Australian.

“In particular, the government will not introduce an emissions ­intensity scheme, which is a form of trading scheme that operates within the electricity generation sector. It is the Labor Party which, by putting ideology ahead of ­common sense, promises both more expensive and less reliable energy.”

Tony Abbott, who took the Liberal leadership from Mr Turnbull seven years ago last week after the party split over climate policy and 11 frontbenchers resigned, told Sky News’s Bolt Report the “last thing” ministers wanted was to reopen questions “that were settled for our side back in 2009”.

Just another day at the office for Do-nothing Malcolm: brain fart an idea, trigger Parallel PM criticism, withdraw policy.

Bring Tony back. At least he’s honestly dishonest.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.