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.
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.
Kevin Rudd vowed to save Labor from a “catastrophic” Australian election defeat when he took over as leader in June. While polls show he’s narrowed the gap, the party still faces eviction after six years in power.
Even by the abrasive nature of Australian political sparring, the war of words between Prime Minister Kevin Rudd and Rupert Murdoch, who controls more than two-thirds of the nation’s urban newspaper market, is shaping up to be the most acrimonious in its election history.
Prime Minister Kevin Rudd’s prospects at this week’s election hinge on his home state of Queensland, a region 2 1/2 times the size of Texas that’s given federal Labor a majority of votes just once in 20 years.