The Abbott government has commissioned its own secret modelling of the economic cost of different long-term greenhouse emission targets to be debated by cabinet on Monday, and it is understood to show more ambitious goals would not cost much more than modest ones.

The environment minister, Greg Hunt, went on the attack against Labor on Monday after the Daily Telegraph reprised 2013 modelling for the Climate Change Authority on the costs of cutting emissions by between 40% and 60% of 2005 levels by 2030.

“It will see tens of thousands of jobs lost, power bills skyrocket, wages will be lower and the economy will be more than half a trillion dollars weaker,” Hunt said.

Asked on ABC radio whether the modelling was up to date, Hunt said: “It’s not that old, but more to the point ... if they have different figures, produce it.”

But Guardian Australia understands the Department of Foreign Affairs has commissioned leading economist and former Reserve Bank board member Warwick McKibbin to model the costs from the industrial and electricity sectors of various post-2020 targets being considered by the current government, between 20% and 35% of 2005 levels by 2030. McKibbin also modelled the impacts on Australia of climate commitments made by other countries.

The foreign minister, Julie Bishop, and Hunt are understood to have argued, during an earlier cabinet debate, for a reduction of between 25% and 28% on 2005 levels by 2030 – but others in cabinet have expressed concern that the government won’t get any political credit for taking on an ambitious goal.

Sources familiar with the McKibbin modelling said it showed little difference in the economic impact of the various targets on the table. McKibbin declined to comment when contacted by Guardian Australia.

read more: http://www.theguardian.com/environment/2015/aug/10/coalitions-secret-emissions-modelling-shows-large-cuts-wont-impact-economy

Of course anyone interested in "real news" should go to the Betootaadvocate site. Even if the news on that site are completely made up, they make more sense than the drivel that is passed as news in The daily Telegraph. (I don't link the Murdoch press. There is no malice in this, it's just that my old computer crashes every time I go there. So what you see from Gus is coming from the real printed paper-matter).