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Australian MPs pass carbon tax.

Europe Intelligence Wire

| October 12, 2011 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Guardian Unlimited)

The Australian government has cleared the major hurdle towards bringing in one of the world's biggest carbon emissions trading schemes after MPs passed two bills that are expected to be voted into law by senators next month.

The carbon tax aims to cut Australia's emissions by 5 per cent from year 2000 levels by the year 2020, and bring emissions down 80% by 2050. The prime minister, Julia Gillard, hailed the bills' passage through the lower house of parliament as a historic reform.

"This is a significant day for the Australian nation, not just for today but for the generations to come," she said.

The carbon tax bill …

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