Australian Prime Minister Tony Abbott’s popularity has slipped as the government lags on its promise to stop asylum seekers arriving by boat, with parliament resuming for the first time since the September election.
The Australian opposition may support Prime Minister Tony Abbott’s bid to repeal the nation’s carbon tax if the government agrees to retain an emissions-trading program, Labor leader Bill Shorten said.
Australia risks falling behind the U.S., China and other nations in cutting carbon emissions unless it raises its target for a 5 percent reduction by 2020, the government’s climate change adviser said.
General Electric Co. says Australia will eventually adopt an emissions-trading system even as the government seeks to repeal a carbon-price mechanism imposed on the A$1.5 trillion economy by a previous administration.
Clean Energy Finance Corp., the Australian green development bank earmarked for closing by newly-elected Prime Minister Tony Abbott, is making a profit and prodding commercial banks to lend, according to its chief executive officer.
The seeds of Julia Gillard’s demise were sown the night she became Australia’s first female leader in June 2010. Just days after vowing not to challenge Kevin Rudd, the deputy leader ousted him in a backroom party coup.