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BCA report highlights risk of rushing an Emissions Trading Scheme.

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- MEDIA RELEASE - SENATOR THE HON. ERIC ABETZ Deputy Leader of the Opposition in the Senate Shadow Minister for Innovation, Industry, Science and Research

Media enquiries: Brad Stansfield 0419 884 666 1

A08689 21 st August 2008

BCA report highlights risk of rushing an Emissions Trading Scheme

Today's Business Council of Australia Report highlights the massive risk the Rudd Labor Government is taking with Australia's future by plunging head-long into an emissions trading scheme.

"Today's BCA report should serve as a wake-up call for Mr Rudd", Senator Abetz said.

"Of the 14 businesses studied in the paper, three will shut, four will lose up to half their earning and the remainder will have to drastically reduce costs - to say nothing of the potential loss in investments.

"On top of this, Mr Rudd's flawed ETS will do nothing to address greenhouse emissions.

"The Opposition has always maintained that to rush into a scheme without properly designing it, or taking account of international developments (of the lack thereof) would not only destroy Australian industry, it would do nothing to reduce greenhouse gas emissions.

"Forcing an Australian business to close by placing a massive carbon tax on them, only to have it replaced by an equally or more polluting business elsewhere in the world does not reduce emissions by one milligram.

"Since election, Mr Rudd has been all about watching - fuel watch, grocery watch, whale watch, childcare watch - the list goes on.

"Now it seems he's proposing a new watch - IndustryCLOSURE watch."