Bernie Fraser, Chair of the Climate Change Authority and former Reserve Bank Governor, addresses the National Press Club.
Bernie Fraser, Chair of the Climate Change Authority and former Reserve Bank Governor, addresses the National Press Club. Photo: Alex Ellinghausen





Former Reserve Bank governor Bernie Fraser says the Abbott
government is working in the short term interests of business and not
the long term interests of the community in its policies on climate
change.
Mr Fraser, in an address to the National Press Club, has also
expressed surprise at the “brazenness and scale” of the campaign waged
by the government and big business against the carbon and mining taxes.
The chairman of the Climate Change Authority, which the
government plans to abolish, said on Thursday that the debate over
climate policy in Australia was now devoid of balance and maturity.
Mr Fraser said Australia was at risk of being left behind
other countries that were acting more quickly to reduce their emissions.
“While the government professes to accept the science of
climate change the indications are that it is unlikely to back that
acceptance with appropriate actions,” he said.
“It's really lightening, rather than adding to the policy tool kit.
“What has been made clear is that the scale of that effort …
will be determined primarily by short term budgetary considerations, not
by considerations related to climate science.
“It seems clear to me that in the area of climate change
policy the government is backing in business interests – and big
business interests for the most part – ahead of the community
interests.”
Mr Fraser criticised the government's “ongoing campaign to
demonise the carbon tax” and said that as long as business and
government interests were aligned, the debate about climate change in
Australia would remain “lopsided for some time to come”.

The Climate Change Authority chairman expressed frustration
that many elements of the government's direct action policy still had
not been clarified and said the authority was not in a position to
assess the potential costs of the policy as long as the details were
unknown.
On Wednesday, former treasury secretary Ken Henry backed comments by economist Ross Garnaut
that the Abbott government's direct action policy would cost closer to
$4 or $5 billion, rather than the $1.5 billion the government has
predicted.
Dr Henry also questioned how committed the government would remain to emissions reduction targets over time.



The Climate Change Authority has called for Australia's
emissions reduction target to be increased from 5 per cent to 15 per
cent by 2020.
Mr Fraser said on Thursday the increased target was “credible
and desirable” and more in line with targets being imposed by other
countries, including the United States.
Mr Fraser said the reaction from business to the proposal had
been mixed and there were many small businesses who supported active
policies to reduce emissions.
“But these people while they are numerous, they're often
shouted out by larger companies and, I have to say, particularly the
mining industry,” he said.



Environment Minister Greg Hunt's office has been contacted for comment.