CSR Welcomes Coalition CPRS amendments

CSR Ltd today welcomed the Opposition’s proposed amendments to the CPRS legislation as a positive step for Australian industry.

“While we have consistently supported an emissions trading scheme to reduce greenhouse gas emissions, that must not come at the expense of local manufacturing and jobs in Australia,” said managing director, Jerry Maycock.

“We are encouraged that both the Government and the Opposition have committed to good faith negotiations to develop the best legislation and regulations to transition Australia to a low carbon economy.

“The proposal for a single threshold makes transitional assistance more equitable and removes the decay factor, which was effectively a tax on productivity. In particular those energy intensive trade exposed facilities which need to use value add methodology in determining their eligibility for transitional assistance must not be disadvantaged against those using a revenue basis. These measures will help maintain the international competitiveness of Australian industry until such time as our competitors see a similar carbon price.

“The CPRS legislation is profound and the regulation is complex. It is vital that Australian industry has certainty with respect to future investment under this scheme so we urge the Federal Government to take a pragmatic approach and work with the Opposition to improve upon the existing legislation and produce a more workable and balanced emissions trading scheme.”