Some good news, at last

Good news, in financial affairs, is a rare commodity at present.

But you can, confidently, expect some today.

The Federal Treasury has been modelling the costs of curbing carbon use, in Australia.

And there has already been some inspired leaking, on the subject.

Not only will these costs be moderate, on the Treasury’s count.

But the modelling might also suggest ways in which Australian companies can get ahead of the game, in environmental affairs.

The Rudd government has a  lot at stake here.

It is now clear that reducing carbon emissions has become a necessity.

But the way that is done still leaves room for debate.

The Rudd government has already invested a great deal of its credibility in its proposed emissions trading scheme.

So, if it bungles the introduction of that scheme, the Kevin Rudd  can expect to pay a very high price.

The government’s survival is very much at issue, here.

The former Prime Minister, John Howard, aligned himself very closely with climate change sceptics.

So far, there has been very little sign that his second successor, Malcolm Turnbull, will try a different path.

The next few weeks – and months – will be critical.

If the Rudd government can convince Australian business that its worst fears, about the cost of combating climate change, are unfounded, it will have made great progress.

That would, certainly, undercut the opposition, very nicely.

Mr Turnbull, though, is undoubtedly a very clever political operator.

So no-one will be watching the Treasury modelling today more closely than the current Liberal leader.