Govt to 'stay with emissions timetable' (AAP)

The federal government says it must stay the course with its timetable for an emissions trading scheme, despite its likely impact on inflation. The opposition says the Rudd government's carbon pollution reduction plan will add to inflation, and has called for the introduction of an emissions scheme to be delayed. "... the government wants to rush through a poorly designed and implemented ETS (emissions trading scheme) which will put further pressure on inflation," opposition treasury spokesman Malcolm Turnbull said. The comments follow the release of data showing cost-of-living pressures increased during the three months to June, taking the annual inflation rate to a 12-year high of 4.5 per cent. Deputy Prime Minister Julia Gillard conceded inflation remained a major challenge, but said that it was also essential the... [read full story]