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$250 bn for carbon cut ‘ridiculous’

The federal government says reports that Australia’s target for cutting carbon pollution could cost as much as $250 billion are ‘ridiculous’.

Prime Minister Tony Abbott confirmed on Tuesday that his government had set the country a carbon emissions reduction target of at least 26 per cent – of 2005-level emissions – by 2030.

The target could go higher, to 28 per cent, depending on its economic impact.

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The aim has been criticised, given it falls short of all other developed nations but Japan and South Korea, and business estimates suggested a huge cost to go with it.

But Environment Minister Greg Hunt told ABC Radio on Thursday that the budgeted $200 million a year for the emissions reduction fund would be sufficient to meet the 2030 goal.

The figures bandied around by the Ai Group were “plainly ridiculous, unacceptable and wrong,” he said.

– with AAP

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