Rio Tinto: PM Gillard Needs to Review Carbon Pricing First
Forcing carbon pricing to an economic environment still reeling from the residues of the global financial crisis will only hamper recovery efforts, according to Rio Tinto managing director David Peever.
At best, Peever stressed that business confidence in Australia, which is already teetering due to numerous gripes, will further slide following the series of pressures seen lately on the domestic front.
And the international situation is not at all helping, the Rio Tinto Australia chief said during a tax conference held in Perth on Wednesday.
"None of us need to be reminded that the world is still recovering from the global financial crisis, there are US and European debt issues, there is turbulence in global financial markets and soft domestic consumer confidence," Peever was quoted by The Australian as saying.
His comments were made as the Australian Parliament is set to tackle the carbon tax proposal that the federal government will introduce Tuesday next week.
In that light, Peever called on Prime Minister Julia Gillard to first revisit the consensus developed by business leader last year during the round-table discussion convened by Federal Treasurer Wayne Swan and Climate Change Minister Greg Combet, the concept of which seemed to have slipped from Ms Gillard's radar, he lamented.
Judging from its present disposition, the government, Peever said, put up the round-table consultation as a mere charade, ignored its principles and decided to defer back to the carbon pollution reduction scheme (CPRS) that the government of former Prime Minister Kevin Rudd had shelved.
To date, Rio Tinto is under the impression that "the principles of environmental effectiveness, budget neutrality, competitiveness of Australian industries, investment certainty, and administrative simplicity," were overlooked by the policy makers in Canberra.
"In this environment, the government's carbon tax scheme is another impost that will undermine business confidence and competitiveness in Australia," Peever stressed as he suggested that it is best to "go back to the drawing board and reconsider (the right) approach," for implementing the carbon tax.
However, Investor Group on Climate Change chief executive Nathan Fabian said on Thursday that Peever may have spoken too soon as he reminded the Rio Tinto executive that he may not be in a position to speak for those who contributed to the policy development discussion.
Himself a member of the round-table, Fabian recalled that those present during the discussion have collectively decided to adopt the measures submitted before the informal business forum on carbon pricing.
"Every group put in their own version and it would be inaccurate for anyone to comment on whether the priorities were broken from the perspective of other members of the round-table," Fabian told the Australian Mining.