By James Grubel
Canberra - Australia's government will boost compensation to big carbon emitters, coal companies and electricity generators under a revised carbon-trade scheme aimed at securing vital parliamentary support in a vote this week.
Full opposition support and parliamentary approval would be a boost for the government just weeks before a major UN climate change conference in Denmark.
But Greens slammed the billions of dollars in extra compensation as throwing good money away.
Prime Minister Kevin Rudd unveiled the revised scheme after reaching a deal with opposition leaders.
But he still needs the backing of the opposition parties, which are deeply divided on the issue and are meeting on Tuesday to decide whether to back the plan.
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"We have got a very good package and I think we have an exceptional package. It's a deal that will protect jobs and the environment in Australia," Macfarlane earlier told reporters.
The government needs the support of at least seven opposition lawmakers in the Senate, which rejected the scheme in August. Some opposition lawmakers have said they will oppose the laws even if their leader Malcolm Turnbull approves a deal.
The scheme is scheduled to start in July 2011, cover 1 000 of Australia's biggest polluters and 75 percent of the nation's greenhouse gas emissions.
If the bills pass the Senate, Rudd hopes to play a prominent role in negotiating a new global climate treaty at a summit in Copenhagen next month.
Senate approval would mean Australia backing what would be only the second domestic emissions trading scheme outside of Europe to pass into law.
The United States and New Zealand, which are also trying to pass carbon trading laws, are eyeing developments in Australia closely.
Rudd said the proposed amendments were affordable, and would help Australia curb greenhouse emissions, blamed for global warming.
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