Comments on: How much cash will the states get under the CPRS? Zero. http://www.crikey.com.au/2009/10/28/how-much-cash-will-the-states-get-under-the-cprs-zero/ now with extra source Sun, 12 Feb 2012 07:37:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Emma Watts http://www.crikey.com.au/2009/10/28/how-much-cash-will-the-states-get-under-the-cprs-zero/#comment-43295 Emma Watts Wed, 28 Oct 2009 05:48:10 +0000 http://www.crikey.com.au/2009/10/28/how-much-cash-will-the-states-get-under-the-cprs-zero/#comment-43295 "Read the legislation Dr Denniss. First, through the CPRS legislation, low and middle income households are compensated by 120% above the impact on the cost of living, including for the increased cost of government services. The Government has wisely directly compensated those most in need, not given the money to State Governments to waste. Second, and this is not so wise given the VAT fraud found in the EU scheme, the CPRS legislation provides for the GST to be applied to emission permits. That is the very significant revenue the States get, with a high probability it will be wasted." Michael Hitchens - Australian Industry Greenhouse Network “Read the legislation Dr Denniss. First, through the CPRS legislation, low and middle income households are compensated by 120% above the impact on the cost of living, including for the increased cost of government services. The Government has wisely directly compensated those most in need, not given the money to State Governments to waste.

Second, and this is not so wise given the VAT fraud found in the EU scheme, the CPRS legislation provides for the GST to be applied to emission permits. That is the very significant revenue the States get, with a high probability it will be wasted.”

Michael Hitchens - Australian Industry Greenhouse Network

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