Businesses back Rudd's Carbon Tax changes

BUSINESS groups have mostly welcomed the Federal Government's decision to axe the price on carbon but mining groups are concerned about a move to a floating price.

The Federal Opposition dismissed the plan, saying an early transition would not change the effects of carbon pricing on households.

The Government yesterday announced it would dump the carbon price a year ahead of schedule and move to an emissions trading scheme (ETS) next year.

The decision means the fixed carbon price of $24.15 a tonne will fall to between $6 and $10 a tonne.

But the Government is yet to outline how it will pay for the billions of dollars the decision will cost.

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