Renew Economy reports:
On Monday, Prime Minister Kevin Rudd made us wince as he confirmed plans to take the thought bubble away from Tony Abbott and transition to an emissions trading scheme a year early. Today, he made many cry as he identified the victims who would have to make way for his populist ploy.
The Rudd government has taken an axe to a series of climate change programs to make up the budget shortfall caused by the proposed accelerated transition to a traded emissions scheme to July 1, 2014. The axe has not touched the main renewable energy programs, but also will leave in place compensation for trade exposed and energy intensive industries.
The popular, and much praised, Clean Technology Investment Program is one of the major victims – with impacts on solar and energy efficient lighting – along with carbon capture and storage programs, and the biodervisity fund and the farming support fund.