It said carbon taxes were the "most powerful and efficient tools" to deal with global warming which it described as a "clear and present threat" to the world.
The fund looked at the impact three rates of carbon tax, at $US25 a tonne, $US50 and $US75 , to see how this would affect emissions from the world's 20 largest economies.Across the 20 nations, emissions would be reduced by 19, 29 and 35 per cent respectively. But some nations would see much larger reductions while others, such as Australia, would struggle even with a very high carbon tax.
In Australia's case, a $US75 a tonne carbon tax would drive up electricity prices by 75 per cent over a decade. Only two other countries, India and South Africa, would suffer larger increases in power prices.There would be major health benefits apart from the reduction in greenhouse gases, with the IMF saying a $US75 carbon tax would save the lives of 720,000 people - mostly in China - from coal-related diseases.
"To make carbon taxes politically feasible and economically efficient, governments need to choose how to use the new revenue," it said.
“It said carbon taxes were the 'most powerful and efficient tools' to deal with global warming” .... there’s a shocker. The left wing IMF thinks wealth redistribution is the answer to climate change 🙄 auspol ClimateCult EcoSocialism
swrighteconomy Paris agreement is a fraud agreeement ! We shall not be governed by an international power!
swrighteconomy Meanwhile, world’s second largest economy approved to again double their carbon output. Media and IPCC are silent!
swrighteconomy IMF are Racketeers Why is the SMH supporting their efforts to continually steal from hard working, tax paying Australians. Families need half priced electricity, not more taxes. Treasonous behaviour
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