Australia's opposition seeks postponment of carbon trading plan

The government is releasing the Treasury Department's economic modelling on the ETS today, but it does not take into account the recent global economic downturn.

The opposition's emissions trading spokesman, Andrew Robb, says it would be grossly irresponsible for the government to press ahead with its carbon trading plans at the moment.

He says more modelling needs to be done to take into account the global financial crisis.

"It is already starting to impact greatly on business, it must be a major factor in any design of any proposed scheme for climate change," he said.

"It's just the reality of the situation".