The announcement comes after a year of political rancour and economic turmoil in Australia, with powerful business lobbies and opposition political parties having long accused Prime Minster Kevin Rudd’s cap-and-trade dreams of being unsympathetic to the Australian economy.
“These are very difficult circumstances for the global economy,” Rudd acknowledged in announcing the delay. “Our objective is to provide business certainty for the future as this effects the wider economy long term.”
Rudd
