Australia’s top economists have overwhelmingly backed the reintroduction of the carbon price that helped cut Australia’s emissions between 2012 and 2014.
The government concedes that achieving its legislated emissions reduction target of 43% below 2005 levels by 2030 and net zero by 2050 will be difficult. With official forecasts showing Australia falling short, the Economic Society of Australia asked 50 leading Australian economists what should be done to speed things up.
Offered a choice that included nuclear energy, accelerated investment in large-scale batteries, and a rapid phase-out of traditionally fuelled vehicles, 30 of the 50 picked a carbon price of the kind introduced by the Gillard Labor government in 2012 and abolished by the Abbott Coalition government in 2014.
