CANBERRA-The federal opposition has intensified its attack on the Government's emissions trading scheme, warning it has "very big flaws".
Treasury spokesman Malcolm Turnbull went on the offensive today, saying parts of the scheme were absurd, it was too rushed, and the whole country was at risk from the scheme not working out.
"We're already seeing very big flaws," he told ABC Television.
"And those flaws are evidence of a lack of focus and a lack of discipline, a lack of care in getting the detail right."
The Government, which could struggle to get the scheme through a hostile senate, is putting pressure on the Liberals to approve the scheme.
But Mr Turnbull was in no mood to be conciliatory today as he spoke out against the government's proposal.
He pointed to claims by Woodside Petroleum that more than $60 billion in liquefied natural gas (LNG) investments could be shelved because emissions trading would penalise exports.
Some exporters will be given free permits to pollute under emissions trading - but only the biggest polluters.
Woodside Petroleum fears they will not qualify, meaning they would have to pay for their emissions.
"You get the absurdity that the dirtier export industries with more emissions will benefit, and the ones that have cleaned up their act will be penalised," Mr Turnbull said.
He also criticised the Government's 2010 start date for emissions trading.
"Industry, households, all Australians are being put at risk by that ill-considered timetable," he said.
Mr Turnbull said the Liberals' policy was to move towards emissions trading but to do so "with great care and with great deliberation".
He flagged that the opposition might not support a key part of emissions trading - reducing the flow of permits over time so the carbon price rose.
"If very little is going on elsewhere in the world (to cut emissions), then the rate of reduction would be very slight, it might even be level," he said.
Mr Turnbull would not be drawn on whether the Liberals were inclined to support the scheme in the Senate, saying they would be very careful and would insist on getting it right.
The Liberals have struggled to articulate a clear position on emissions trading in recent weeks, with leader Brendan Nelson taking a more sceptical approach, while Mr Turnbull and other senior Liberals have been more positive.
