Tax revenues...

  • European Union:  Newly updated data compiled by the Centre of International Economics shows that in the 6 and a half years to June 30, 2011, the European Union’s Emissions Trading Scheme raised 3.674 billion Euros or $AUD 4.9 billion.
  • Australia: Based on the Gillard Government’s own projections, over its first 61/2 years, Australia’s new carbon pricing scheme will raise around $AUD 71 billion.
    • Despite producing one-tenth of the EU’s emissions, Australia faces a tax take 14 times larger than the EU.

Tax revenue on a per capita basis...

  • European Union: On a per capita basis, the EU ETS has raised tax revenue of $AUD 1.53 per person per annum since 2005.  (Based on EU population of 500 million).
  • Regional Greenhouse Gas Initiative (Regional trading scheme in Northeast US): According to analysis by the Centre of International Economics, tax revenue from the RGGI from its inception in 2009 to June 30, 2011 totalled $US 886.4 million or $$825 million AUD (based on exchange rate of 1 AUD = $0.9308USD).
    • Tax revenue from RGGI in AUD –On a per capita basis, the RGGI scheme which covers 10 North Eastern states in the US has raised tax revenue of $AUD 6.60 (based on combined RGGI states’ population of 50 million).
  • Australia: The Australian Government has signalled that in its first year, the tax take from the Australian carbon pricing scheme (including carbon taxes and associated fuel tax measures) will be $8.6 billion.
    • That equates to a per capita tax take of $A391(based on Australian population of 22 million).

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