China considers a small carbon tax of 10 yuan ($1.55) per ton of CO2

The Australian – China is planning a carbon tax on big energy consumers by 2015 in a development that has been seized on by the Gillard government as further evidence the rest of the world is acting to cut global greenhouse emissions.

But the mooted starting carbon price of $1.55 (10 yuan) from the world’s biggest carbon-emitting economy has reignited business concern that Australia’s $23-a-tonne starting price from July 1 is too high and will damage business competitiveness.

The proposals for a new environmental taxation system had already been submitted for review to the Ministry of Finance and were expected to be implemented before the end of the 2011-15 five-year plan.

The possible China carbon tax would be tiny but the US and many other countries have no carbon tax and are not talking about one.

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