From The Australian on Saturday:
“I’m saying that Greece manipulated data and I think this is manipulation of data too,” Professor Pagan said at a Melbourne Institute conference on the IGR in Canberra yesterday.
His allegation provoked a furious response from Treasury’s head of macroeconomics, David Gruen. “We didn’t make it up,” he said.
Oh really? More spin from budget paper no. 1 this week:
The Carbon Pricing Mechanism is expected to raise $24.7 billion in receipts over the forward estimates. The receipt estimates incorporate a carbon price for 2015-16 of $29, based on Treasury modelling in Strong Growth, Low Pollution.
European carbon prices have been trading near record lows below $10 and some leading analysts, including Bloomberg New Energy Finance, predict that the carbon price will stay low and remain close to the $4 mark by 2020.