Prime Minister Malcolm Turnbull has approved a radical redesign of his flagship energy policy to put a priority on price cuts rather than climate change targets in a bid to prevent a backbench revolt that could threaten his leadership.
The drastic changes will make consumer prices a key factor in deciding the scale of future cuts to greenhouse gas emissions, removing one of the biggest obstacles to a Coalition consensus on the National Energy Guarantee.
The controversial target at the heart of the policy, a 26 per cent cut to emissions by 2030, will be set by ministerial regulation rather than being cemented in legislation to avoid forcing Liberals and Nationals MPs to vote for a climate change target they cannot support.
Read David Crowe’s story from The Age - “Malcolm Turnbull approves radical NEG redesign in bid to prevent backbench revolt.”
(The coalition's efforts to control Australia's carbon dioxide emissions, as insignificant as they were, have been formally extingushed - Robert McLean)
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