Swan: carbon price vital for first-rate, first-world economy

Putting a price on carbon emissions is the only way to drive investment in cleaner energy innovation, and failing to do so would condemn Australia to becoming "an old-world, high-polluting technological backwater," Treasurer Wayne Swan said in a speech Tuesday.

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Read more: CPRScarbon priceAustraliaWayne SwanCarbon Pollution Reduction SchemeGarnaut Review 2011Ross Garnaut