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Rattled markets look to rate cuts as circuit breaker; Barnett faces revolt over $1.5b in cuts; Banks urged to support frozen funds; Big banks staring at $1b payout over Bell; Gold the bright spot in grim mine sector

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Perth
Page 3 Australian Financial Review Emissions Trading. So now Mr Rudd and Treasury are going to spend taxpayers cold hard cash overseas to purchase carbon to meet Australia's emission target scheme. Surely it would be much smarter to spend taxpayers A$ at home by providing to Australian taxpayers and Australian Companies an incentive tax break for investment in carbon generating, carbon neutral projects/industry and in CO2 reductions by industry. The old carrot and donkey act. Unfortunately for Australian taxpayers, Treasury is holding the carrot, the bag, feeding its face and has become fat, lazy and out of touch with the the carrot growers. The Australian community and taxpayers.

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