Government releases draft legislation to repeal the carbon price

Introduction

The new Coalition Government took its first concrete steps yesterday to deliver on its promise to make the repeal of the Carbon Pricing Mechanism (CPM) (or the so-called "carbon tax") its first item of business for the new Parliament. With Parliament unlikely to sit until about 11 November, the Government has released exposure drafts of eight carbon tax repeal bills (Repeal Bills) and an accompanying Repeal of the Carbon Tax Consultation Paper (Consultation Paper).

Public consultation on the Repeal Bills has commenced and submissions can be made until 5pm on Monday 4 November 2013. This is likely to give the Government a very small window to make any amendments arising from the consultation before the Repeal Bills are tabled in Parliament.