For most developed nations the last five years have ushered in difficult economic times. Not though for resource rich Australia which has sustained high economic growth courtesy of the unquenchable thirst of China for its minerals. However the benefits of the mining boom have not been evenly...

On 2 May 2010 the Government released the long awaited Henry Tax Review and announced its initial response. Of the 138 Henry reform proposals a few were taken up, some rejected outright and the majority left for future consideration. This paper focuses on the main proposals, both adopted and...

As part of its response to climate change the 1997 Kyoto Protocol envisages a global scheme with national emissions trading schemes (“ETS”) linked to form an international market for carbon. In 2010 the Tokyo Metropolitan Government (“TMG”) established an ETS. This regime has some unique...

Global initiatives to reduce emissions can be categorised as either regulatory measures or measures that seek to place a price on carbon. Most jurisdictions employ a combination of the two with pricing measures generally preferred by economists. Where carbon is priced this is typically achieved...

Emissions reductions can be promoted through regulatory measures but most economists support placing a price on carbon as a complementary and, possibly, more effective measure. A pricing measure typically takes the form of either (or both) a carbon tax or an emissions trading scheme (ETS)....

In 2005 the EU’s ETS became the first mandatory scheme to be implemented. The 2012 Australian ETS was based on the EU precedent and the plan, before the Australian ETS was repealed, had been to link the two regimes. The EU scheme suffered a serious setback early on when the market price for EU...