Australia politics live: RBA drops reference to multiple interest rate hikes ahead after record 10th straight rise

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• RBA interest rates: Reserve Bank increases official cash rate to 3.6% in record 10th consecutive rise
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Climate change minister: many industries cannot comply with emissions reduction without offsets

What about what David Pocock wants - limits on the number of carbon credits big polluters can use? Chris Bowen says:

My position publicly is the same as it is privately - that if you put hard caps on carbon credits when you're requiring 4.9% emissions reduction each and every year, then that is a problem, because you've got industries which won't be able to comply with that without without accessing [credits].

Now, people say you can't offset your way to net zero and you can't offset your way to the 1.5 degrees. And I agree with that.

Mr Bandt with respect says well, there's this pipeline of projects and Labor wants to approve them', now that is not the case.

What there is, is a register of projects which companies have ... filled in and said one day we might want to develop this or we're interested in developing this ... many of them are yet to get environmental approvals, finished final investment, decisions for board approval, insurance, finance, etc.