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Agriculture's CPRS future remains uncertain

- Saturday, August 15, 2009

Despite a week of furious debate and discussion, the future role of Australian agriculture under Australia's proposed emission trading scheme remains uncertain. The Opposition has proposed exempting agricultural emissions from a CPRS liability, while the Government maintains that a decision on agriculture's role will be made in 2013, with the potential of inclusion of agricultural emissions after 2105

Speaking¬†on ABC radio, Climate Change Minister Penny Wong maintained the approach for agriculture spelled out in the Government's White Paper. However, as many in the industry have pointed out, the uncertainty surrounding agriculture's inclusion or exclusion will have real economic impacts on the sector well in advance of 2015, just as the Queensland Government's vegetation regrowth clearing moratorium is already creating uncertainty - resulting in two major banks expressing their concerns about the impacts on land values this week.  
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