Australia plans for cleaner economy: Swan | Perth Now

Australia plans for cleaner economy: Swan |
Perth Now

 Treasurer Wayne Swan says Australia has the framework right in preparing the national economy for a future with cleaner energy and lower carbon emissions.
THE Labor government's price on carbon emissions came into operation on Sunday.
"In the 21st century, to be a first-rate developed economy, you have got to be substantially powered by renewable energy and more energy efficient practices," Mr Swan told ABC TV on Monday.
"We have got the framework with carbon pricing, a market-based system which is the most efficient and least cost."
Mr Swan said some price impacts would flow through to the economy as 294 big polluters begin paying the $23 per tonne price on carbon emissions.

Side note:

 One flashpoint for price action this morning has been commentary from the Finnish government, who has said the Finnish and Dutch governments are to block the ESM buying bonds in the secondary market, prompting apprehension among investors evident in an uptick in Bund futures coinciding with a 15 pip move lower in EUR/USD. Since the bond-buying measure requires all nations to vote unanimously, there is a tangible possibility that the proposed ESM actions could be blocked.

Data has been relatively few and far between, as manufacturing PMIs across Europe come in slightly soft, but the final readings brought no major surprises, although the UK figure showed manufacturing input prices falling at their fastest pace since May 2009; placing the onus once again on the BoE to expand their asset purchases.