Government will consider warning on emission trading

"We're having discussions with the Business Council about the data they used, the model they used. We will take all that on board when we make our decisions in the national interest," Swan told ABC Radio in Melbourne on Friday.

His comment follows a warning from the Business Council of Australia (BCA) of company closures and huge profit downgrades if the Rudd government goes ahead with its planned carbon emission trading scheme.

The council says it wants the government to hold off on emissions trading until international agreements are forged.

However, Swan said: "Business wants the emission trading scheme because they know the cost of not acting is far greater than the cost of acting and it's one thing we absolutely agree on".