With the tumultuous 2008/2009 financial year officially behind us, many businesses are taking the opportunity to draw a deep breath before embarking on what may well prove to be an equally challenging 12 months ahead.

The Global Financial Crisis has brought a reprieve to industry on certain key measures to be implemented by the Federal Government in its Carbon Pollution Reduction Scheme suite of legislation - perhaps more so than any lobbying or politicking has been able to achieve.

The Minister for Climate Change and Water, Penny Wong, announced on 14 May 2009 that the proposed start date for the Federal Government’s Carbon Pollution Reduction Scheme had been pushed back from 1 July 2010 to 1 July 2011. The Government described the deferral, along with a raft of other amendments, as necessary to "manage the impacts of the global recession".

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