T2 RWE Flashcards
Positive Consumption - Direct a provision
2.3 euro annual increase in funding for state schools for the next two years
§ Help restore funding for pupils up to the age of 16 to 2020 levels, with core school funding expected to reach 58.8 euro billions by 2025.
○ Japanese Govt supplied 170 million doses of Pfizer vaccine in Nov 2021 to help vaccinate the nation as quickly as possible to slow down spread of Coronavirus
Positive Consumption - Subsidies
○ Takara Bio (Japanese Biotech firm) plans to expand its contract drug manufacturing operations and construct a new COVID-19 vaccine facility
§ Become one of Japan’s largest contract vaccine manufacturer. - Takara Bio will invest billions of yen + some government subsidies to construct the plant which will allow millions to have access to the dose.
Positive Consumption - Éducation
○ Health officials urging people to get vaccinated during very disease-prone seasons
§ E.g BUPA health insurance’s chief medical officer Tony MacDermott warns of a perfect storm with flu - converges in Winter and so it is important to get your vaccination
Positive Consumption - Legislation/Regulation
South Africa
New Bill (Basic Education Laws Amendment) which was processing feedback from public included proposed amendments, making preschool the new compulsory age for school
§ Parents would be criminalised if they don’t ensure their children attend school.
Positive Production - Subsidies
○ European Commission approved semiconductor research projects with 8 billion euros in public fonds to bolster EU’s domestic chip supply chain
§ Aims to produce 20% of world’s semiconductors by 2030
§ Semiconductors would help a lot in energy production as well
○ Agricultural Subsidies USA § Since Great Depression 1930, USA has been subsidising for certain agricultural products - costing taxpayers over $20 billion every year. § Meant to help small farmers survive but technically most of the subsidy is going to wards the larger farmers as the subsidy is dependent on how much is harvested and sold and small farmers only make small amounts compared to larger industrial farmers.
Positive Production - Government Provision
○ Program targeted to Singaporeans aged 40 and above called the Singapore Skillsfuture Program - run by the government which provides them with courses, allowing them to learn, get certificates and degrees and participate in the workforce, once again, increasing productivity.
Negative Consumption - Indirect Tax
○ Singapore’s Finance Minister announced in 2023 15% increase in excise duty on all tobacco products to discourage consumption
§ Generate lots of Government Revenue which can be used in other sectors
Negative Consumption - Legislation/Regulation
○ Canadian Government has plans to buy back firearms that were banned in 2020 - reached a deal to buy 11,000 now-illegal guns and parts from retailers who can no longer sell them. Guns might cost as much as $756 million.
§ Reduces the possibility of consuming a demerit good, like a gun.
Negative Consumption - Education
individual cigarette
§ Aims to convince adults to quit smoking, protect young people (by scaring) and non-smoking from nicotine addition and reduce the appeal of tobacco.
§ Aims to decrease tobacco use nationwide by 5%.
Negative Consumption - Nudges
○ Combat Australia’s sugar consumption problem which is causing potential health risks due to excessive amounts of consumption of sugar
§ CSIRO develops a technology (patented in 2018) to reduce sugar content without using additives or sweeteners, increasing health start rating and reducing the sugar problem.
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Negative production - Indirect Taxes
○ ETS aims to reduce EU greenhouse gas emissions by 55% by 2030 and aviation accounts for 3% of these emissions
§ Rules will phase out free pollution permits for airlines in 2026, resulting in increased costs for producers (and thus carrying it over to consumers - up to 10 euros increase per flight).
Negative Production - Legislation/Regulations
○ EU is trying to combat plastic pollution by producing packaging regulations
§ Aim to make packaging more reusable, recyclable and/or compostable. In summary, it needs to be a more sustainable version than the current model for plastic packaging.
§ 5% less packaging waste by 2030 and 15% by 2040.
Negative Production - Collective Self Governance
○ Kitasoo First Nations in British Columbia has declared Kitasu Bay as an Indigenous Marine Protected Area - concerns about overfishing and declining marine life
§ Canada has efforts to conserve 30% of its marine areas by 2030.
Negative Production - Carbon Tax
approved corporate carbon tax - highest in Europe (companies in and out of ETS)
§ Total CO2 levy will be 1,125 Danish crows per tonne for companies within ETS (375 crowns fee + ETS 750 Crowns)
§ Companies in mining pay 125 instead of 375
Companies outside of ETS pay 750 crowns fee.
Negative Production - Tradable Permits
○ Air pollution was a major issue in India, leading to 12 million deaths due to high levels of tiny particulate matter that can cause respiratory and cardiovascular diseases
§ This was as a result of industries which emitted CO2, and to combat this, India launched a “cap and trading” program where industries must hold permits for their emission (can only emit a set standard).
§ They can also trade permits to incentivise emissions reduction
