Australian economists say ratify Kyoto

By BRIAN FALLOW

Australian economists have called on their Government to ratify the Kyoto Protocol, saying it is in Australia's economic interests.

Prime Minister John Howard has said Australia will not ratify the climate change treaty, citing potential harm to the Australian economy and the unfairness of an agreement that does not include major Third-World emitters.

But a statement signed by 254 academic economists says that policy options are available that would slow climate change without harming employment or living standards in Australia.

Revenue raised from carbon taxes or the sale of tradeable permits to emit greenhouse gases could be used to reduce taxes elsewhere in the economy.

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