Labor’s $7.6 billion carbon tax cost revealed
February 17, 2014
We’ve known all along that Labor’s carbon tax is inflicting massive damage on Australian households and businesses.
Now the full extent of the damage has been revealed.
For the first time, the Clean Energy Regulator has released figures detailing the carbon tax bills for all liable entities for the 2012-13 financial year.
In its first year of operation, the carbon tax was a $7.6 billion hit on the Australian economy and a direct hit on around 75,000 businesses. That’s much worse than Labor ever lead on.
348 companies have paid $6.6 billion in direct emissions liabilities in 2012-13.
A further $1 billion has been slugged on business through reduced fuels tax credits, and through charges on the refrigeration and aviation industries.
16 of the 20 largest carbon tax bills have gone to electricity companies. The power sector is being hit with $4.1 billion in additional costs – and that’s pushing up power bills for families.
Manufacturing has been slugged $1.1 billion – and that’s putting pressure on jobs.
Local councils have been slugged – and that’s pushing up rates bills.
Regional and rural Australia is being hit with dairy and meat processors, and sugar refineries copping carbon tax bills.
The carbon tax even hits the education sector with La Trobe University copping a bill for almost $586,000. And indirectly all schools and universities are being hit.
The carbon tax is an attack on the entire Australian economy. What’s worse is that it doesn’t even work. Despite a $7.6 billion tax, emissions for the first 12 months barely changed by 0.1%.
Bill Shorten has now taken ownership of Labor’s carbon tax. All Australians can blame Bill Shorten for helping to push up electricity bills and the overall cost of living.
It’s time for Labor to get out of the way and support the repeal of the carbon tax.
Labor trashed the economy while in government. Scrapping the carbon tax is one way Labor can undo some of the damage.
Further information on carbon tax liabilities is available online at: http://www.cleanenergyregulator.gov.au/Carbon-Pricing-Mechanism/Liable-Entities-Public-Information-Database/LEPID-for-2012-13-Financial-year/Pages/Default.aspx ..