Australia Says Economy to ‘Prosper’ Even With Carbon Price
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Australia’s economy will “grow strongly” even as businesses are charged for their carbon emissions, the government said, citing updated forecasts from the Treasury.
Incomes may rise 1.1 percent annually on average through 2050 as Australia cuts greenhouse-gas pollution, compared with a forecast of 1.2 percent a year without a carbon price, Treasurer Wayne Swan and Climate Change Minister Greg Combet said today in an e-mailed statement.