The far right wing of Australian politics has been driven into overdrive with Rupert & Co absolutely slamming Turnbull in the press, calling his career over and constantly posturing every liberal frontbencher as a potential leadership challenger.
Starting with the feasible improvements, the existing scheme has two notable problems aside from general questions about design, targets and so on. First, it makes voluntary action to reduce emissions ineffectual, since this just lowers the cost of emissions permits (I thought this had been fixed by the changes announced in March, but I was wrong on this point). A suggestion to fix this is the idea of an Additional Action Reserve, put forward by the Centre for Energy and Environmental Markets...
Second, not only does it give out free permits to existing polluters (bad policy, but probably politically inevitable) it undermines the scheme by requiring that those receiving the permits should continue to pollute. This could be fixed by allowing holders of free permits to cash them in and use them to finance adjustment out of the industry in question. An even bigger improvement would be for governments to provide matching assistance to workers and communities affected by shutdowns of, for example, brown coal power plants. The current scheme has almost nothing in this respect.
[...] If after such dissolution the House of Representatives again passes the proposed law, with or without any amendments which have been made, suggested, or agreed to by the Senate, and the Senate rejects or fails to pass it, or passes it with amendments to which the House of Representatives will not agree, the Governor-General may convene a joint sitting of the members of the Senate and of the House of Representatives.
The members present at the joint sitting may deliberate and shall vote together upon the proposed law as last proposed by the House of Representatives, and upon amendments, if any, which have been made therein by one House and not agreed to by the other, and any such amendments which are affirmed by an absolute majority of the total number of the members of the Senate and House of Representatives shall be taken to have been carried, and if the proposed law, with the amendments, if any, so carried is affirmed by an absolute majority of the total number of the members of the Senate and House of Representatives, it shall be taken to have been duly passed by Houses of the Parliament, and shall be presented to the Governor-General for the Queen's assent. (my emphasis)
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