Clean Energy Future legislation is passed

Today’s passing of the Clean Energy Future legislation through the Senate paves the way for one of the most important environmental and economic reforms in Australia’s history.

It represents a major milestone in the nation’s bid to reduce emissions and capitalise on the economic and job opportunities that will result from pursuing clean energy solutions.

The Clean Energy Future legislation will put a price on pollution, foster renewable energy technologies, encourage energy efficiency and create opportunities to reduce pollution on the land.

It will drive investment in clean energy and it will ensure that Australia plays its part internationally as a global citizen.

A fixed carbon price of $23 a tonne will apply from 1 July, 2012, moving to a flexible price after three years.

The carbon price will only be paid by Australia’s largest polluters: it is a tax on pollution – not on individuals, households or small businesses.

For most people, the Government’s comprehensive Household Assistance Package will cover, and in many cases exceed, any price rises.

Nine out of 10 households will receive compensation from a combination of tax cuts and increases to family benefits.

More information on the package is available at Clean energy future: the way ahead and the Clean Energy Future website.