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Australian PM changes carbon tax ahead of election

July 15, 2013 • Business


FILE – In this June 26, 2013 file photo, Kevin Rudd speaks to the media following a leadership ballot for the Labour Party at parliament in Canberra, Australia. Australia’s prime minister said Tuesday, July 16, 2013, he will transform a deeply unpopular carbon tax a year ahead of schedule, in a bid to cut costs to households as a national election looms. (AP Photo/Rick Rycroft, File)

SYDNEY (AP) — Australian Prime Minister Kevin Rudd said Tuesday he will transform a deeply unpopular carbon tax a year ahead of schedule, in a bid to cut costs to households as a national election looms.

The fixed-price carbon tax on Australia’s worst industrial polluters, which went into effect in July 2012, was supposed to remain in place until 2015. At that point, it was set to be replaced by an emissions trading scheme, in which the cost of Login to read more

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