First a $70 billion black hole, now this $4 billion funding gap. How could we trust Abbott with our economy when his sums don't add up?
Tony Abbott's climate plan has $4bn funding gap, new modelling shows
Devastating analysis shows Coalition will have to stump up extra cash – or break pledge to cut emissions by 5% by 2020Tony Abbott will have to find at least another $4bn for his climate policy or else break his pledge to cut emissions by 5% by 2020 and instead allow them to increase by 9%, according to new modelling suggesting the Coalition's Direct Action plan cannot work.
The Coalition insists it will provide no more than the money it has allocated to buy emission reductions from polluters who voluntarily apply to its emissions reduction fund – $2.5bn over the next four years – and, according to figures in the original 2009 policy document, almost $5bn by 2020.
But a devastating analysis by the Climate Institute, based on modelling from Sinclair Knight Merz/MMA and Monash University's Centre of Policy Studies, found at least $4.07bn more would be required to meet the target.
Without the extra money, the modelling shows, the Coalition would have no hope of meeting the international pledge of a minimum 5% emissions reduction by 2020, agreed by both the main parties, and would instead preside over an increase in Australia's emissions of 9%.
This would be equivalent to doubling the number of cars on Australian roads, the analysis says...
http://www.theguardian.com/world/2013/aug/14/funding-gap-abbott-climate-plan