Former Australian opposition leader Malcolm Turnbull has savaged his successor's plan to combat climate change, calling it a recipe for fiscal recklessness.
Giving his first parliamentary speech since losing the Liberal Partyleadership in December, Mr Turnbull indicated he would cross the floor to vote with Labor when a vote was taken on the carbon pollution reduction scheme.
Mr Turnbull was scathing of the new direct-action policy adopted by the Liberal/National coalition - now led by Tony Abbott, who toppled Mr Turnbull in a leadership vote latre last year - which aims to provide financial incentives to industry for reducing carbon emissions.
Mr Turnbull said industry and businesses attended by an army of lobbyists were all too effective at getting their sticky fingers into the taxpayer's pocket.
And having the government pick projects for subsidy is a recipe, he said, for fiscal recklessness on a grand scale.
Mr Turnbull vowed to cross the floor of the Australian Parliament and vote with the government on its trading emissions scheme.
He said Australia must have strong, credible climate-change legislation.
