Australia becomes first developed country to abolish carbon tax

Source: RT

The Australian Senate has voted to scrap the controversial two-year old carbon emission tax, signaling a major victory for Prime Minister Tony Abbott. Reaching the national carbon reduction goals remains in question.

Carbon emission has been a long-running debate among politicians. The Liberals claim it penalizes business, while the Labor Party says it helps combat climate change.

In the 2013 elections Prime Minister Tony Abbott who heads the Liberal-Nationals coalition put forward repealing the carbon emission tax as a central aim of his government.

In exchange he promised to replace the tax with a government fund of AUS$2.55 billion through which industries will be paid to reduce emissions and use cleaner energy.

Read more: http://rt.com/business/173764-australia-first-abolish-carbon/