Australia to dump carbon tax

The position of Science Minister and a fund providing loans for green technologies will also be abolished, along with two official bodies related to climate change.

"As soon as I return to Parliament House from the swearing-in ceremony, I will instruct the Department of Prime Minister and Cabinet to prepare the carbon tax repeal legislation," Abbott said in a statement.

The carbon tax was devised to make Australia’s biggest polluters pay for excess emissions. Abbott claims this tax costs jobs and forces up energy prices. He proposes instead a ‘direct action’ plan which would subsidise farmers and businesses to reduce their emissions.