The Albanese government will cap the carbon price at $75 a tonne for miners and other big industrial emitters, in a bid to shield business from the risk of future cost spikes and provide certainty under Labor’s decarbonisation plan.
The price cap is part of a package of reforms announced by Energy and Climate Minister Chris Bowen on Tuesday, in the first major federal regulation of emissions since the Gillard government’s carbon price was axed by Tony Abbott in 2014.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
