Critical appraisal of tax expenditures and the implementation of environmental policy in Australia

Concerns about the threat posed to life and property by environmental degradation are increasingly taking centre stage in both domestic and international forums. The degradation manifests itself in various forms such as air and water pollution, land degradation, loss of biodiversity, and climate change. The challenges posed by this threat have elicited varying policy responses from the regulatory authorities in their bid to stem its tide. The most daunting aspect of the task, however, has been compounded by the fact that the cost of repairing the damage caused is estimated to require funding levels of astronomical proportions.