There is talk that the newly installed PM Kevin Rudd is going to dump the carbon tax and go I to a carbon trading scheme 2 years before it is scheduled.
The main problem with that, as pointed out by the Deputy Leader of the Opposition, is that the Labor Government have already spent the anticipated revenue from the tax for the next 2 years. This would create a huge hole in the forward estimates and put our country further into debt.
Of course this change can only be a promise that they would do this if re-elected and can get it past a possibly Greens controlled Senate.
One must always remember that this is another mess created by themselves and promoted in the past by their "born again" leader.