THE ultimate test of the carbon tax to be announced tomorrow is not whether it saves Labor, but whether it does anything to save the planet.
This newspaper has long supported the need for a market-driven approach to carbon emissions: the benefit from reducing greenhouse gases is a given. The question is whether this tax, at this time, will achieve that aim without harming our exports, domestic industries, jobs and living standards. The first test is that the tax does no damage to the global competitiveness of our trade-exposed industries.This is not just about setting appropriate levels of tax and compensation now, but of checks and balances to ensure the scheme does not escalate ahead of the rest of the world in future. The tax cannot become the plaything of the Greens with their skewed view of economic reality.