Wong defends emissions trading scheme

The federal government says its emissions trading scheme is "no Ferrari" when it
comes to tackling climate change, but it's better than nothing.
The government on Tuesday released draft laws for emissions trading, which it wants
to start in July 2010.
Australia is one of the few countries outside Europe to have prepared laws to cut
greenhouse gas emissions.
The government is under siege on emissions trading and the laws were criticised from
all sides.
Climate Change Minister Penny Wong acknowledged the scheme was not perfect.
"Some people want it to be a Ferrari, but if you can't have a Ferrari, would you
really have no vehicle at all?" Senator Wong told reporters as she unveiled the
laws.
"Do you throw away something because you'd rather have everything?"
The 400-page draft laws follow on from the government's previous announcements.
The scheme will put a price on carbon pollution in order to reduce emissions by
between 5 and 15 per cent by 2020.
The price of electricity will rise but many households and some businesses will get
compensation.
Business groups want a delay in the scheme because of the economic crisis.
Australian Industry Group chief executive Heather Ridout said a 2010 start was "too
onerous" so the draft laws fell short.
Green groups said the scheme was too weak and called for the government to go back
to the drawing board on the laws.
The criticism continues in the parliament, where no one but the government is happy
with the scheme. It's not clear if the scheme will pass the Senate.
Opposition emissions trading spokesman Andrew Robb said the scheme had "failed on
all accounts".
Greens climate change spokeswoman Christine Milne was unimpressed.
"This bill is as thick as the Canberra phone book, but it is full of wrong numbers,"
Senator Milne said.
Senator Wong noted the government did not have a Senate majority and promised to
talk to the other parties, but wouldn't be drawn on whether she would accept
amendments.
The debate on emissions trading is getting more complicated by the day, with three
Senate committees set to inquire into the issue.
The opposition and the Greens are teaming up to hold a two-month select inquiry into
how best to tackle climate change.
The government wants the economics committee to look into the draft laws.
A third Senate committee is already looking into emissions trading.
The government wants to release finalised laws for emissions trading in May and have
them pass parliament in June.
The European Union already has emissions trading, but very few countries outside
Europe are as advanced as Australia in introducing a scheme.