Letter to the Editor Canberra Times Feb 12th
To reduce greenhouse gas emissions we need to invest in ways to generate energy without producing greenhouse gases. To invest we need money. The most obvious place to find money is by putting a surcharge on energy sources that also produce greenhouse gases – not a tax but a surcharge similar to the 9% compulsory savings for superannuation. The money collected is saved for the purchaser in a Savings Account owned by the purchaser but it can ONLY be spent on ways to reduce greenhouse gases. That way we do not tax people but we get everyone to SAVE for the planet. Because we have a lot of people with funds to invest then markets will arise to meet the demand.
We will achieve our objective of reducing emissions without complicated trading schemes and with a market. The market is not in carbon credits but in ways to reduce greenhouse gases. We can start saving immediately. The rate at which carbon emissions will come down will be determined by the size of the surcharge. The approach has little inflationary effect because the surcharge is a savings and is not a tax. The money will be spent carefully because each of us has an interest in spending wisely and getting the best return on our savings.
We can start saving today by putting existing taxes on energy and resources into savings accounts. Anyone interested can open a “Save the Planet” Savings Account and the Government puts the already collected taxes into the accunts on an equal basis.
We have a budget surplus and the population would welcome this way of reducing the surplus.
We can help save the planet while making the electorate wealthier.