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Wake up call?
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Yes - the recent calibre of Liberal frontbenchers are completely unspoiled by failure.
Shadow Minister,
You need to quote fully what Professor Ross Garnaut actually said - otherwise it gives people the wrong impression Sir.
According the an article in The Herald Sun, Prof Ross Garnaut said that households should have their compensation for a carbon tax ramped up over time after the plan is introduced.
His report called for two round of tax cuts over time to provide more assistance to households. Prof Garnaut said 55 per cent of the $12 billion that would be raised by taxing big polluters in the scheme's first year should go to households through generous tax cuts and benefits payments.
Within 10 years of assitance this should increase to 60-65 per cent of the money raised by taxing polluters.
"It makes sense from equity and efficiency perspectives for households to ultimately receive the vast majority of the carbon pricing revenue."
Prof Garnaut says most money should go to low and middle-income earners, but recommended lifting the tax-free threshold to $25,000 so all workers get some benefits.
"Raising the tax-free threshold would have the effect of cutting tax for all taxpayers including high income taxpayers." He said this would drive more people into the workforce.
"Over time... there will be further opportunity to provide more assistance to these households through a second round of tax cuts."
Prof Garnaut said there was a case for "structural adjustments" for workers and communities in coal regions or other high emitting regions that will be hit hardest by the new tax.
He recommends $1 billion over four years be set aside to help those communities.