Fed: Climate change modelling not precise: Costello

AAP General News (Australia)
04-03-2007
Fed: Climate change modelling not precise: Costello

CANBERRA, April 3 AAP - Federal Treasurer Peter Costello says the economic impact of
climate change was not included in the latest intergenerational report because current
modelling systems can't deliver accurate figures.

Mr Costello yesterday released a five year update on his intergenerational report of
2002, which considered the challenges faced by Australia as the population ages and the
nation has a smaller proportion of workers to meet the cost burden.

The federal government says it has made some progress in the past five years in preparing
the country for the next 40 years, but an ageing population will still mean Australia
facing a budget deficit of $35 billion in 2047.

Mr Costello said current climate change modelling was not accurate.

"You'd have to model not just the effects of climate change, but you have to model
responses, because they could affect the economy," he told the Nine Network.

"Responses could affect the economy, if they were the wrong responses, or if they were
responses which were too extreme, they could affect the economy as much as global warming
if not more."

AAP sld/maur/de

KEYWORD: CLIMATE COSTELLO

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