PRIME Minister Kevin Rudd has hit back at businesses seeking emissions trading concessions, saying avoiding financial pain is “not do-able”.
The Australian Industry Group (Ai) is calling on the government to impose a “gentle” system. It believes Australian companies will be penalised under the plan, benefitting foreign competitors.
However, Rudd claims the economic cost of inaction is far greater than the cost of action.
He says moving to a lower carbon economy will involve necessary costs and the federal government will ensure adjustment strategies are put in place.
The government has been under increasing pressure from businesses not to damage industries with the design of its emissions trading scheme, set to begin in 2010.
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