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Prime Minister Kevin Rudd has moved swiftly to fast track this scheme and has indicated that a full plan will be communicated in the next few days.The emissions trading scheme will replace that with a floating price, based on current EU carbon futures and is expected to be a positive development for major companies currently being impacted by the carbon tax.
The share price of BHP Billiton was largely unaffected this morning as the share trades slightly lower in Australian’s session and is currently lower in the South African JSE listing, but developments are undoubtedly of interest at this stage as the impact is expected to be considerable.