Carbon tax the Coalition’s first target

The Coalition will introduce legislation to repeal the carbon price scheme on the first day of the new parliament if elected but is refusing to reveal key elements of its “direct action plan” or how it will pay for its promised tax cuts, according to the Australian Financial Review.

Opposition environment spokesman Greg Hunt said the Coalition had left some flexibility to change the direct action policy if elected but there would not be a price on carbon. “I believe that if the Coalition wins the next election there will not be a carbon tax in Australia over the next 20 years,” Hunt said.

Under the Coalition’s emission reduction fund, companies that have emissions above their “business as usual” level – based upon data under the National Greenhouse Energy and Reporting Scheme – incur a financial penalty. But Hunt refused to say what this penalty would be and how factors such as changes in production would used to calculate emission levels.

Deadline looms for $150M deal

CLEAN coal power station developer HRL is battling to make a June 30 deadline to achieve commercial milestones necessary to qualify for $150 million in state and federal government grants, The Australian Financial Review reports.

In February, federal Energy Minister Martin Ferguson said an extension granted until June 30 would be “the last”

AFR reported that at a Senate estimates hearing in May, federal officials said the key impediment to HRL’s receiving its funding was to reach financial arrangements with private backers.

Land rush for Port Hedland

Port Hedland is set to grow by a third after the Western Australian government announced a $1.5 billion residential land release, according to the Australian Financial Review.

It is the latest effort from the state government to ease crippling housing shortages in the area and upgrade infrastructure and amenities in a bid to lure workers and investors to the booming region.

WA Regional Development Minister Brendon Grylls said the 226-hectare project, called Western Edge, would provide much needed room to grow.

“You don’t have to be a rocket scientist to know Western Australia is under enormous pressure with huge population growth, faster than anywhere else in the nation,” Grylls said.

International hotel chain Hilton Worldwide and a consortium of investors plans to build a $65 million luxury hotel in Karratha.