Australia Votes Down 2 Year Old Carbon Tax

Australia’s Senate has voted to repeal the carbon tax, a levy on the biggest polluters passed by the previous Labor government.

Prime Minister Tony Abbott, whose Liberal-National coalition beat Labor in an election last year, had made the repeal a central aim of his government.

Politicians have been locked in a fierce row about the tax for years.

Labor says it helps to combat climate change, but the Liberals claim it penalises legitimate businesses.

The Australian Senate voted by 39 to 32 votes to repeal the tax.

Introduced in July 2012, it charges the 348 highest polluters A$23 (£13; $22.60) for every tonne of greenhouse gases they produce.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza